Economy gauge points to recovery
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A gauge of future economic activity that had declined for five-straight months reversed course in November, signaling the nation&#39;s financial engine is still gaining power, even though the growth rate has slowed.
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WASHINGTON -- A string of government reports yesterday offered a mixed picture of the US economy.
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Surprising strength in the nation's service economy, coupled with recent data showing the manufacturing sector is humming along, suggest the broader economy may be shaking off slumps in the housing and automotive industries.
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A key forecasting gauge for the U.S. economy rose for the second straight month, but at a smaller-than-expected 0.1 percent in January, a report from a private research group said on Wednesday.
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The labor market is holding steady, businesses are rebuilding inventories and the consumer is still spending, all signs pointing to stronger economic growth in the latter part of this year.
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The U.S. economy may be in recession,   based on Midwest manufacturing data, a report said on Thursday.
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Reports on factory orders and the labor market  portrayed an economy that is skirting recession as attention shifts to government figures on employment to be released Friday.
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Lofty oil prices may make the road ahead a little steeper, but the economy is on track to emerge from a recent soft patch intact, private-sector economists at a weekend retreat agreed.
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NEW YORK Aug. 19, 2004 - Offering more evidence that the nation&#39;s economic recovery is losing steam, a closely watched gauge of future business activity fell in July for the second consecutive month.
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Investor's Business Daily - That&#39;s a little softer than the prior reading of 4% and estimates for a 3.9% annual rate. But it&#39;s still the best in a year. Net exports were a little weaker than prior estimates said. Still, trade and business investment offset another sharp drop in home building as well as sluggish consumer spending. Most economists expect slower 2nd-half growth as a credit crunch takes its toll on housing and other sectors.
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The latest snapshot shows an economy that has returned to a moderate economic expansion of about 3 percent. At this pace, the economy is not growing fast enough to create large numbers of jobs
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The U.S. economy's soft patch last spring was a bit firmer than previously thought.
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Employment statistics, sales tax collections, large construction  projects and other key economic indicators point to an accelerating  recovery --- and even growth -- in many Gulf  Coast communities damaged by hurricanes Katrina and Rita.
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The outlook for the US economy in 2007 has picked up, a survey indicates, thanks to robust consumer spending.
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Holiday sales data and a jobs report  this week will provide the first glimpse of the economy's  health going into 2005, and could give another boost to the  end-of-year stock rally, analysts said.
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The U.S. economy may be in recession,  based on Midwest manufacturing data, a report said on Thursday.
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Now that the second quarter&#39;s soft patch in the US economy has been revised up to show growth of 3.3 percent, economists are turning their attention to the post-soft patch, or regaining traction, period.