After adjusting for the storm effects, both initial and continuing claims appear to be near their pre-hurricane levels, indicating that labor markets remain strong despite the weak October payroll employment report.
Despite the brief moderation in consumer attitudes, consumers appear to be spending heavily still, urged on by widespread hiring and income growth.
Although higher interest rates appear to have begun to have a negative impact on housing activity and consumer spending, sturdy domestic demand and improving international economies have generated an acceleration in manufacturing activity.