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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

570,000 New Jobless Claims Filed Last Week, GDP Shrank 1%

Last week 570,000 new jobless claims were filed, slightly worse than expectations. Forecasters expected jobless claims to drop to 565,000 last week. Claims spiked unexpectedly to 576,000 the week before.

Also, U.S. gross domestic product for the second quarter shrank at a rate of 1 percent, which was better than expectations. Forecasters expected GDP to be revised downward to 1.5 percent.

In other news, Boeing has announced a new schedule for its oft-delayed Dreamliner 787, saying the big passenger jet will make its first flight by the end of this year and make its first delivery by the fourth quarter of 2010.

Also this morning, luxury home builder Toll Brothers said that it lost $472 in the third quarter, a number that fell short of analysts' expectations.

-- Frank Ahrens
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By Frank Ahrens  |  August 27, 2009; 8:41 AM ET
Categories:  The Ticker  | Tags: GDP, jobless claims, unemployment  
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Comments

The war keeps getting more expensive and the people saving Iraq are doing the same for the USA with the same results. We all have securities and exchange cancer now, so we get to die real slow because they are making life as short and miserable as possible for us. Hey we now have a monkey with 2 moms, so there is hope and change with plastic jesus running the high command.

Posted by: Dermitt | August 27, 2009 8:51 AM | Report abuse

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