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531,000 people filed new claims for unemployment insurance in the week ending October 17, more than the 515,000 claims economists expected.
The index of U.S. leading economic indicators rose in September for a sixth straight month, indicating the economy is likely to expand into early 2010.
The measures propelling the leading index, including a declining trend in claims, rising stocks and low short-term borrowing costs, are stopping the erosion in consumer finances and reducing the risk the economy will backslide. Companies from Caterpillar Inc. to Google Inc. are among those reporting better-than-anticipated earnings and saying the worst slump since the 1930s is over.
“The recovery is here and it’s going to get a little stronger too,”