While economic data around the world generally disappointed overnight, the US held up its end of the bargain this morning when jobless claims came in slightly better than expected (348K vs 350K), falling to their lowest level since March 2008.
The four-week moving average of jobless claims also declined to 355K.
On a non-seasonally adjusted basis, initial jobless claims declined by nearly 25K to 315.6K. For the third week of March, this is the lowest reading since 2007 and well below the average since 2000 for this particular week.
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