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Economy: Jobless claims down, manufacturing up

April 01, 2010

Initial unemployment claims fell in the U.S. fell during the week ended March 27. Separately, business activity in the manufacturing sector gained momentum in March, according to an Institute for Supply Management report.

The number of U.S. initial claims for unemployment insurance for the week ended March 27 fell by 6,000, or 1.4%, to 439,000 from the previous week's revised number of 445,000, the U.S. Department of Labor reported today.

The four-week moving average of claims for the week ended March 27 fell by 6,750, or 1.5%, to 447,250 from the previous week's revised average of 454,000.

In a separate report released today, the Institute for Supply Management's key purchasing managers' index for manufacturing indicated growth in the manufacturing sector during March increased at its fastest pace since July 2004.

March's index reading rose to 59.6 from February's reading of 56.5. Readings of more than 50 indicate expansion.

However, the employment portion of the index fell to a reading of 55.1 in March from a reading of 56.1 in February.