A range of mostly positive macroeconomic data has been published today in the United States, reinforcing the estimates that the recovery of the largest economy in the world is continuing to accelerate. In the American labor market, the amount of new unemployment claims has dropped last week by 37 thousand – the sharpest drop since February of 2010 – to 404 thousand. The Philadelphia area manufacturing activity index has dropped to 19.3 points in January from 20.8 points in December, a sharper drop than predicted by economists expecting a 20-point level.
In the American real estate market, existing home sales recorded 12.3% leap in December, reaching an annualized rate of 5.28 million homes, the highest level since May. The recorded rise was sharper than predicted by analysts, expecting only a 3% rise to an annualized rate of 4.87 million homes in December.
China's statistics bureau reported yesterday that the country's GDP grew by an annualized 9.8% in the fourth quarter, as compared to 9.6% in the third quarter. Economists have predicted a more moderate 9.4% growth.
In the commodities sector, the United States Department of Energy reported yesterday that U.S. Crude oil reserves grew last week by 2.6 million barrels, reaching a level of 335.7 million barrels, as opposed to analysts' predictions of a decline of 500 thousand barrels. Based on this information, the price of crude oil dropped yesterday by the sharpest rate in nine weeks. February futures on crude oil locked at 88.88 United States dollars for one barrel of oil, a 2.2% decline.
Also on the commodities exchange, silver has locked at 27.49 United States dollars for one ounce – a 4.6% decline, while gold has declined by 1.7% to a level of 1,346.5 United States dollars for one ounce at the New York Commodities Exchange.
