U.S. data suggest economy picking up steam after weak first-quarter

The number of Americans filing new claims for jobless benefits tumbled to a 15-year low last week and consumer spending rose in March, signs the economy was regaining momentum after stumbling badly in the first quarter. "This morning's reports all point to an economy that is doing a lot better than the near-stagnation in first-quarter GDP suggests," said Paul Ashworth, chief U.S. economist at Capital Economics in Toronto. Initial claims for state unemployment benefits fell 34,000