Economy, November | featured news

China's services sector cooled in November to its weakest growth in three months, an HSBC purchasing managers' index showed on Monday, the latest data portraying an economy slowing quickly and in need of policy support.

Employment growth picked up speed in November and the jobless rate dropped to a 2-1/2 year low of 8.6 percent, further evidence the economic recovery was gaining momentum.

New orders received by factories unexpectedly rose in November, and orders excluding transportation recorded their largest gain in eight months, according to a government report on Tuesday that pointed to underlying strength in manufacturing.

The National Association of Realtors said the number of people who signed contracts to buy homes rose in November. The index of sales agreements for previously occupied homes increased by 3.

The number of people applying for unemployment benefits fell sharply last week, with applications hitting the lowest level in two and a half years.

New single-family home sales rose in November but to a lower- than- expected rate , a government report showed on Thursday, highlighting the weakness in the housing market even as the broader economic recovery gains momentum.

New claims for jobless benefits dipped last week and consumer spending increased in November for a fifth straight month, reinforcing views of a solid economic growth pace in the fourth quarter.

Sales of previously owned U.S. homes rose in November, offering the latest sign the economy was ending the year on a more solid footing after a sluggish third-quarter performance.

Retail sales were solidly higher in November, the government reported Tuesday, fueled in part by deep discounting on holiday merchandise.

Vice President Joe Biden says a weak November jobs report is "disappointing" and a sign that the economic recovery is fragile.