17 Weeks Straight Above 1 Million

We had two important economic reports this morning. The jobless claims report topped 1 million for the 17th week in a row. Initial weekly claims came in at 1.3 million for the week ending July 11. Economists had been expecting 1.25 million. Continuing claims came in at 17.338 million.

The retail sales report for June rose by 7.5%. That’s on top of the monster 18.2% increase for May.

Economists had been expecting an increase of 5%. Excluding autos, the increase was 7.3%.

Posted by on July 16th, 2020 at 10:40 am


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