International News - US Data Shows Fresh Signs of Improving Economy

Fresh signs the US economy has broken out of its summer soft patch emerged as data showed a gauge of jobless benefits hit a new two-year low last week and pending home sales unexpectedly rose in October. The picture also was brightened by news retailers saw stronger-than-expected sales for November as shoppers flocked to stores and spent more during the annual discount bonanza known as Black Friday. "There seems to be no doubt that the economy is improving and likely to continue to improve," said Mark Vitner, a senior economist at Wells Fargo Securities in Charlotte, North Carolina. Initial claims for state unemployment aid increased 26,000 to a seasonally adjusted 436,000 last week, the Labour Department said. But a four-week moving average - a better gauge of underlying labour trends - fell to its lowest level since the week ending August 2, 2008. EUROZONE GDP RISES