Housing sector, factory orders sag in May
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Fresh signs of a weak housing sector and a modest drop in new orders received by U.S. factories during May implied the economy was struggling to gain momentum in the second quarter.
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WASHINGTON -- Orders to U.S. factories for big-ticket manufactured goods plunged in May by the largest amount in four months as demand for aircraft, heavy machinery and metals all declined.
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New orders at U.S. factories fell 4.7 percent in October, the biggest fall in more than six years and marking the third drop in four months, while inventories rose again suggesting growing slack in the economy, a government report said on Tuesday.
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A gauge of US manufacturing fell this month to the lowest in more than a year, incomes lagged spending in September and home construction declined in the final economic reports before tomorrow&#39;s presidential election.
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WASHINGTON -- Pending sales of existing homes dropped for the third straight month in May, a real estate trade group said Tuesday, demonstrating the persistence of the housing slump.
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Sales of new homes fell in June for the first time in four months, and the government also lowered figures for May, providing further evidence the high-flying housing market is losing altitude.
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New home sales in May fell more than expected while consumer confidence in June hit a 10-month low amid worries about jobs and the business climate, adding to signs of sluggish economic growth this year.
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U.S. factory orders suffered the steepest drop in six years last month and an index of homes sales fell, according to data on Tuesday highlighting weak spots in the economy that could derail its recovery.
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Existing home sales posted their largest gain in two years last month, a sign the housing market may be climbing out of a slump, but orders for big-ticket factory goods fell as businesses showed wariness about the economy's health.
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U.S. auto sales are expected to have dropped in May as a weak housing market and higher gas prices sapped demand, analysts said this week.
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The pace of sales of existing homes  in the United States fell 1.2 percent in May, roughly in line  with expectations, according to a report from the National  Association of Realtors said on Tuesday.
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Orders to U.S. factories posted a weaker-than-expected gain in April as declines in demand for cars, planes and boats offset strength in business investment.
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Sales of existing U.S. homes slipped  in May, another sign of a gradually cooling housing market as  mortgage rates rise, while consumer confidence rose slightly in  June, according to reports on Tuesday.
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WASHINGTON -- Most parts of the country saw modest economic growth in the past month, although there were pockets of sluggishness as businesses continued to cope with fallout from the troubled housing and automotive industries.
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New orders at U.S. factories fell  4.7 percent in October, the biggest fall in more than six years  and marking the third drop in four months, while inventories  rose again suggesting growing slack in the economy, a  government report said on Tuesday.
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U.S. manufacturers expect the economy to slow in 2007, as the weakening housing market continues to take a toll on business, according to data released on Thursday.
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Factory orders in July for costly manufactured goods recorded the biggest gain in four months. New home sales, meanwhile, slid, according to a pair of reports