The U.S. economy grew at a slightly faster 2 percent annual rate from July through September, buoyed by more spending by consumers and the federal government.
Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week's sharp drop. Both swings were largely due to technical factors.
The number of Americans seeking unemployment aid plummeted last week to seasonally adjusted 339,000, the lowest level in more than four years. The sharp drop, if sustained, could signal a stronger job market.
The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years and giving President Barack Obama a potential boost with the election a month away.
U.S. manufacturing grew for the first time in four months, buoyed by a jump in new orders. The increase was a hopeful sign that the economy is improving.
A spate of data Thursday painted a mixed picture of the U.S. economy: Demand for long-lasting manufactured goods fell and slightly fewer people signed contracts to buy homes. At the same time, the job market looked a little better.