U.S. Economy Shows Slight Recovery

There are a lot of data points out on the U.S. economy this Thursday.              

State unemployment lines fell last week and the closely-watched four-week moving average dropped to a six-month low, according to the Labor Department. 

This reading is key because it covers the time period that will be reflected in the government's monthly non-farm payroll and unemployment reports. 

Business in the Mid-Atlantic region has done an about face from contraction to expansion. 

The Philadelphia Federal Reserve's monthly index jumped to its highest level in six months. 

Meanwhile, a private gauge of future U.S. economic activity rose in September, but the Conference Board says the growth won't be strong enough to bring down the unemployment rate and puts the chances of a recession at 50/50.  

But some economists say if you look at all the data combined - the chance of a recession is now less than it was before.  

Housing, however, remains a negative headwind. Sales of previously owned homes fell more than expected last month.