US Vice President Joe Biden greets workers during a visit to the headquarters of GE Appliances & Lighting to talk about how Recovery Act investments are creating jobs and laying the foundation for long- term economic growth in Kentucky and Indiana, in Louisville, Kentucky, June 28, 2010.

US Initial Weekly Jobless Claims: In the week ending June 26th, the advance figure for seasonally adjusted initial claims was 472,000, an increase of 13,000 from the previous week's revised figure of 459,000. The 4-week moving average was 466,500, an increase of 3,250 from the previous week's revised average of 463,250.

The advance number for seasonally adjusted insured unemployment during the week ending June 19 was 4,616,000, an increase of 43,000 from the preceding week's revised level of 4,573,000. The 4-week moving average was 4,567,500, a decrease of 25,250 from the preceding week's revised average of 4,592,750. On Friday, the monthly government payroll data for June will be published and forecasters have predicted that the US economy shed 110,000.

US Manufacturing: Economic activity in the US manufacturing sector expanded in June for the 11th consecutive month, and the overall economy grew for the 14th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.

Norbert J. Ore, chair of the Institute for Supply Management Manufacturing Business Survey Committee commented: "The manufacturing sector continued to grow during June; however, the rate of growth as indicated by the PMI  (Purchasing Managers' Index)slowed when compared to May. The lower reading for the PMI came from a slowing in the New Orders and Production Indexes. We are now 11 months into the manufacturing recovery, and given the robust nature of recent growth, it is not surprising that we would see a slower rate of growth at this time. The sector appears to be solidly entrenched in the recovery. Comments from the respondents remain generally positive, but expectations have been that the second half of the year will not be as strong in terms of the rate of growth, and June appears to validate that forecast."

Thirteen of the 18 manufacturing industries are reporting growth in June, in the following order: Plastics & Rubber Products; Transportation Equipment; Printing & Related Support Activities; Computer & Electronic Products; Electrical Equipment, Appliances & Components; Paper Products; Fabricated Metal Products; Food, Beverage & Tobacco Products; Furniture & Related Products; Petroleum & Coal Products; Nonmetallic Mineral Products; Miscellaneous Manufacturing; and Chemical Products. The industries reporting contraction in June are: Apparel, Leather & Allied Products; Wood Products; and Machinery.

Markets are in the red after a wealth of disappointing data from pending home sales and ISM manufacturing, with Steven Ricchiuto, Mizuho Securities USA Inc. and John Canally, LPL Financial:

Irish Car Sales: New car sales jumped in the first six months of the year and generated €60m more for the Exchequer than during the same period in 2009.

The Society of the Irish Motor Industry said today that the public scrappage scheme was the main factor behind the surge in sales.

The latest statistics show that VAT and VRT from new car sales had raised €430m by the end of June.

The figures also show that there were 10,000 more vehicles sold in the first half of 2010 than there were in the whole of last year. Sales in June was up more than 75% from the same month last year to 8,452.

The most popular model in June was the Volkswagen Golf, which sold 430 units to account for 5.1% of all sales.

Overall, the Ford Focus was the most popular car in the first six months. 3,242 were sold, which equates to 4.8% of the market.

The economic situation is a global issue, not just a US issue and it will cause some tough times, Joe Grano Chairman & CEO Centurion Holdings told CNBC Thursday. However, the market will allow for price adjustments and well-run companies will take advantage of that, Grano said:

Irish Construction: The volume of output in the construction sector was down 34% in the first quarter of this year compared with the same period last year. The value of output was down 34.8%.

The Central Statistics Office said the amount of home building almost halved, plunging 48% compared with the first three months of last year. Non-residential building was down 32%. Civil engineering output dropped by 18%.

The 34% dip in volume recorded by the CSO compares with a 9.9% drop in the Eurozone in the same period.