The American macroeconomic front provided several positive data yesterday, such, such as the data on new unemployment claims in the United States, which was reduced last week by 20 thousand to a level of 368 thousand – the lowest number since May 2008.
The economists expected a climb in the number of new claims to a level of 395 thousand. Today, the United States employment report for February will be published, with economists expecting it will point to an increase by 183 thousand jobs in the U.S. Labor market, with the unemployment level rising to 9.1%.
ISM reported yesterday that service-sector activity in the United States rose last month to a level of 59.7 points – its highest level since August 2005 – to a level of 59.4 points in January. Economists had predicted a slight index decline to a level of 59.3 points. We note that an index level above 50 points suggests a rise in productive activity, while an index level below that suggests a shrinking of activity levels.
Positive data have been received from the retail sector was well, after America's largest corporations reporting higher sales than expected for February, a mark of the improvement of the American consumers' appetite for shopping. Sales at the open stores in the leading retail chains in the United States rose by 4.2% in February, higher than analysts' predictions for a 3.6% rise.
The price of crude oil is approaching the close of a third weekly rise in a row at the New York Commodities exchange, this due to concerns over possible delays in oil production in Libya and a possible spreading of the unrest to other Middle Easter n countries. Oil futures for April are trading unchanged at 102.20 United States dollars for one barrel of oil. Yesterday oil prices declined by 0.3%. Throughout this week, oil has risen by 4.2%.
