Investment spending rises; employment remains weak

01/29/2010 | Bloomberg

Economists are encouraged that business investments appear to be coming back even though the job market continues to drag. New U.S. Commerce Department data shows orders for durable goods, not including transportation equipment, rose 0.9% in December, surpassing forecasts. The Labor Department reported that weekly unemployment applications fell to 470,000 in the week ending Jan. 23, exceeding the median estimate of 450,000 predicted by 42 economists polled by Bloomberg.

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