U.S. economy faces year-end headwinds
Obama Economic Performance in Perspective by Cory M. Grenier
License (according to Flickr): Attribution-ShareAlike License
License (according to Flickr): Attribution-ShareAlike License
(Moneywatch) Data earlier this week showing that the manufacturing sector slumped in November to its lowest level in three years is just the latest indicator of a slowdown in the recovery. This is adding to concerns the U.S. may not have dodged the economic problems hitting the rest of the world. The Institute of Supply Management said Monday that its index of manufacturing fell to 49. 5 in November, from 51. 7 the previous month, its lowest level since July 2009. Readings below 50 indicate that manufacturing is contracting. Also worrisome: The ISM's measure of factory employment shrank for the first time in more than three years, suggesting that businesses are putting off hiring. October also saw another small drop in disposable personal income, or income after taxes, the third in the last five months. Income decreased 0.
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Organization: Bureau of Economic Analysis
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Organization: Institute of Supply Management
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Organization: New York Federal Reserve
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Organization: Commerce Department
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Organization: Congress
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Organization: Obama administration
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FieldTerminology: gross domestic product
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FieldTerminology: GDP
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Country: U.S.
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- commerce
- congress
- economy
- fiscal cliff
- gdp
- gross domestic product
- Manufacturing
- obama
- pdi
- personal income
- recovery
- sandy
- unemployment
- wages
Site Provided Title:
U.S. economy faces year-end headwinds
Site Provided Desc:
A slowdown in manufacturing, weak household income and "fiscal cliff" fears threaten to undermine fourth-quarter growth
Source Webpage: Click
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