The number of applications for unemployment benefit in the US has fallen - a sign that the labour market is strengthening.
But the economy in the US grew less than previously estimated in the third quarter, reflecting a smaller gain in consumer spending.
Gross domestic product climbed at a 1.8% annual rate from July through to September, down from the 2% estimated last month, revised Commerce Department figures showed today in Washington. But the world's largest economy has picked up this quarter as manufacturers begin work on new orders for 2012.
The threat of government cutbacks and the fallout from financial turmoil in Europe still remain obstacles for expansion heading into 2012.
Asian stock markets rose today on signs the US economy is improving. China's benchmark in Shanghai gained 1.5% to 2,218.01 and Hong Kong's Hang Seng rose 1.1% to 18,576.06. Japan's financial markets are closed for a public holiday.
