U.S. First-Time Unemployment Benefit Claims Up Slightly

First-time claims for U.S. unemployment benefits crept slightly higher in the week ended March 15th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims inched up to 223,000, an increase of 2,000 from the previous week’s revised level of 221,000.

Economists had expected jobless claims to rise to 224,000 from the 220,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also edged up to 227,000, an increase of 750 from the previous week’s revised average of 226,250.

A separate report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing activity expanded overall but was less widespread in the month of March.

The Philly Fed said its diffusion index for current general activity slid to 12.5 in March after plunging to 18.1 in February, although a positive reading still indicates growth. Economists had expected the index to slump to 8.5.

The report also said the survey’s future indicators suggest less widespread expectations for growth over the next six months, with the diffusion index for future general activity tumbling to 5.6 in March from 27.8 in February.

At 10 am ET, the National Association of Realtors is scheduled to release its report on existing home sales in the month of February. Existing home sales are expected to decrease to an annual rate of 3.95 million in February after tumbling to a rate of 4.08 million in January.

The Conference Board is also due to release its report on leading economic indicators in the month of February at 10 am ET. The leading economic index is expected to dip by 0.2 percent in February after falling by 0.3 percent in January.

At 11 am ET, the Treasury Department is scheduled to announce the details of this month’s auctions of two-year, five-year and seven-year notes.