More signs of economic strength in the United States have emerged with jobless claims dropping to a seven-month low and sales of existing homes bouncing back strongly.
Initial claims for state unemployment benefits dropped 6,000 to a seasonally adjusted 213,000 for the week ended 16 November, which was lowest since April and slightly below expectations.
This figure, showing the number people filing for unemployment insurance for the first time, is seen as an early indicator of job market trends and a sign of the health of the U.S. economy.
However, continuing claims rose 36,000 to 1,908,000 in the week ended 9 November, somewhat above expectations, according to data from the Labor Department.
Meanwhile, sales of existing homes sales rose to a seasonally adjusted 3.96 million units in October, 3.4% more than in September, the National Association of Realtors said in a statement.
This was slightly above consensus expectations, according to Goldman Sachs.
Sales rose 2.9% from one year ago, the first year-over-year increase in more than three years.
The data measures sales and prices of existing single-family homes, including condominiums and co-operatives.
"The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions. Additional job gains and continued economic growth appear assured, resulting in growing housing demand," NAR Chief Economist Lawrence Yun said in a statement.