The U.S. economic recovery continues.
On Thursday, the latest weekly data on initial jobless claims fell to another pandemic-era low of 547,000. This data beat Wall Street expectations and marked another improvement in what has been to this point the most stubbornly negative economic data point during the crisis.
And when looking at broad signals on the state of the U.S. economy, we continue to see data improving. Even as some strategists warn of “peak growth” and a more challenging time ahead for investors.
Oxford Economics has followed the recovery for over a year now with a proprietary U.S. Recovery Tracker, which this week registered its highest reading since March 2020. Last March, of course, this data was already in decline and wouldn’t bottom out for another several weeks.
“The US Recovery Tracker rose 1.3 ppts to 90.2 in the week ended April 9, its first reading above 90 since March 2020 and its seventh consecutive weekly gain,” the firm said in a note published Thursday.
