Economic indicators

Recovery will be more difficult because rates were low before the pandemic, Federal Reserve Bank of Boston President Eric Rosengren said.

Payrolls were added and the unemployment rate fell, but some observers saw negatives in the September employment report.

Months after the pandemic caused a surge in initial claims, the numbers remain elevated.

The end-of-month economic data was positive, with even GDP coming in above expectations.

Economic indicators released on Tuesday showed good signs in both consumer confidence and home prices.

"Large, unacceptable risks" remain in the financial system, the president of the Federal Reserve Bank of Minneapolis told the Conference of Institutional Investors.

While not a huge gain, "claims remain staggeringly high" six months into the economic downturn, analysts say.

While most of the losses have been recovered on a monthly basis, the bigger picture is not as rosy.

August and September economic activity has probably been better than that of July, analysts said, however some expect economic activity will resume its decline in October and the following months.

The housing market continues to lead all sectors in recovery, althoough a manufacturing and two services surveys also showed signs of recovery.