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U.S. companies added 158,000 jobs in October, data from a payrolls processor showed on Thursday in a revamped report on the private sector labor market. The historical data for the ADP National Employment Report was revised as part of the new methodology, which was used for the first time in the October report. September's increase has halved to 88,200 new jobs from an initially reported 162,000.

U.S. economic growth picked up in the third quarter as a late burst in consumer spending and a surprise turnaround in government outlays offset the first cutback in business investment in more than a year.

First-time claims for unemployment benefits continued their recent roller-coaster ride last week with the second big drop in the last month, but economists said the overall trend is consistent with moderate -- though not great -- job growth.

New U.S. single-family home sales surged in September to the highest level in nearly 2-1/2 years, further evidence the housing market recovery is gaining steam.

A survey of manufacturing conditions in China showed marked improvement in October. Analysts said the reading reflected the effect of a steady drip of stimulus measures introduced by Beijing.

New economic data from China on Thursday showed that the world’s second-largest economy after the United States expanded at its slowest pace since 2009 during the third quarter of this year — though surprisingly strong data for the month of September also showed that the deceleration may, for now at least, have come to an end.

In the wake of the controversial 7.8% unemployment rate reported by the U.S. Labor Department earlier this month, Gallup today said that its nonseasonally adjusted rate fell from 7.9% at the end of September to 7.3% in mid-October. That is a new low since Gallup began collecting employment data in January 2010.

U.S. builders started construction on homes in September at the fastest rate since July 2008, a further indication that the housing recovery is strengthening and could help the economy grow....

U.S. retail sales rose in September as Americans bought more cars and gasoline, while a gauge of consumer spending pointed to stronger-than-expected economic growth in the third quarter.

After a long period of consumer retrenchment, U.S. families have cut their once-out-of-control debt loads down to pre-recession levels, largely removing one major obstacle to a faster economic recovery.