Key economic gauge rises to record level

A key measure of future economic activity rose in December to its highest level.

The Conference Board’s Composite Index of Leading Economic Indicators climbed to 114.3 in December, surpassing the previous high set in November of 114.1.

It was the ninth-consecutive monthly gain for the index. The closely watched index forecasts economic trends during the next three to six months.

Survey

Mortgage rates drop to six-month low

Mortgage rates around the country dropped for the second straight week, welcome news to people thinking about buying a home or refinancing the one they already own.

The average rate on 30-year mortgages fell to 5.64 percent — the lowest rate in six months, and down from 5.66 percent last week — Freddie Mac, the mortgage giant, said Thursday in its weekly nationwide survey of mortgage rates.

For 15-year mortgages, a popular option for refinancing, rates decreased to 4.95 percent this week, down from 4.97 percent last week.

Agriculture

Poland resumes imports of American beef

Poland, in a largely symbolic action, has become one of the first countries to ease restrictions on U.S. beef imposed last month after the mad cow find in the United States, according to the U.S. Agriculture Department.

As of last week, Poland is allowing imports of fresh and frozen U.S. beef. In 2002, Poland bought $221,000 worth of U.S. beef, USDA said. Total U.S. beef exports exceeded $3 billion.

Forty-seven nations, including leading beef importers Japan and Mexico, maintain a ban on U.S. beef following the Dec. 23 announcement of the first U.S. case of mad cow disease.

Economy

Jobless benefits claims continue to decrease

For the second week in a row, fewer people filed new claims to collect unemployment benefits, a hopeful sign that America’s businesses are feeling more confident that the economy’s recovery will be lasting.

The Labor Department reported Thursday that for the work week ending Jan. 17, new applications filed for unemployment insurance dipped by a seasonally adjusted 1,000 to 341,000, the lowest level since the end of December.

Employment

412-pound trucker gets apology, larger rig

A 412-pound truck driver who said he was fired because he could not fit behind the wheel of a delivery truck has received an apology and a bigger rig from his employer.

Walter Geter, 49, also received back pay from USF Holland Inc. to cover wages since his firing Jan. 15.

“They were so apologetic, told me it was a mistake and told me this would never happen again,” Geter said Wednesday.

Steve Caddy, president of Michigan-based USF Holland, blamed “misunderstandings on both sides of the issue.”