A rich day for the economical news releases from United States was today.
First, the weekly initial jobless claims data came out at the better than expected level showing only 301,000 claims for the previous week which signals the continued moderation of the U.S. unemployment rate.
Second, the leading indicators came out unexpectedly low at -0.3%, while analysts were expecting a growth of 0.1%.
Third, Philadelphia Federal Reserve manufacturing index came out at 9.2 — nearly a half of the expected 14.0.
And, at last, today’s main news maker — FOMC minutes for the June 27–28 meeting were released today. The main idea of the minutes is that while the in the first quarter of 2007 economy grew at a slightly slowed down pace, the second quarter is more promising with the good news on industrial production and employment indicators; still the main concern for the Committee remain the inflation risks, while the GDP growth is estimated to be rather high in the rest of 2007.
