A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rebounded by more than expected in the week ended January 11th.

The Labor Department said initial jobless claims climbed to 217,000, an increase of 14,000 from the previous week’s revised level of 203,000.

Economists had expected jobless claims to rise to 210,000 from the 201,000 originally reported for the previous week.

The bigger than expected increase came after jobless claims fell to their lowest level since hitting 200,000 in the week ended February 17, 2024.

The Commerce Department also released a report on Thursday showing retail sales in the U.S. increased by less than expected in the month of December.

The report said retail sales rose by 0.4 percent in December after advancing by an upwardly revised 0.8 percent in November.

Economists had expected retail sales to climb by 0.6 percent compared to the 0.7 percent increase originally reported for the previous month.

Excluding sales by motor vehicles and parts dealers, retail sales still rose by 0.4 percent in December after inching up by 0.2 percent in November. The increase matched economist estimates.

Following yesterday’s more closely watched report on consumer price inflation, the Labor Department also released a report on Thursday showing import prices in the U.S. crept up in line with estimates in the month of December.

The Labor Department said import prices inched up by 0.1 percent in December, matching the upticks seen in November and October as well as expectations.

Meanwhile, the report said export prices climbed by 0.3 percent in December after coming in unchanged in November. Export prices were expected to rise by 0.2 percent.

The Federal Reserve Bank of Philadelphia also released a report on Thursday showing a substantial turnaround by regional manufacturing activity in the month of January.

The Philly Fed said its diffusion index for current general activity skyrocketed to a positive 44.3 in January from a negative 10.9 in December, with a positive reading indicating growth. Economists had expected the index to jump to a negative 5.0.

Looking ahead, the Philly Fed said the diffusion index for future general activity jumped to 46.3 in January from 33.8 in December, suggesting more widespread expectations for overall growth over the next six months.

At 10 am ET, the National Association of Homebuilders is scheduled to release its report on homebuilder confidence in the month of January. The housing market index is expected to edge down to 45 in January after holding at 46 in December.

The Commerce Department is due to release its report on business inventories in the month of November at 10 am ET. Business inventories are expected to inch up by 0.1 percent in November.

At 11 am, the Treasury Department is scheduled to announce the details of this month’s auction of twenty-year bonds.