“In a hopeful sign, the number of newly laid-off workers filing claims for unemployment benefits fell below 500,000 last week for the first time since January.
“Consumer spending also picked up in October, and new-home sales hit their highest point in more than a year. Together, the reports suggested that the economy should manage to sustain at least a modest recovery. Some economists have worried that the economy was at risk of slipping back into recession.”
WATCHDOG: This is perhaps the first legitimate ray of sunshine. A wag of the tail!
