ask.com

Analysts: U.S. Economy Weakening Faster Than Expected

AP   |  Vinnee Tong   |   January 3, 2008 07:55 AM

Read More: Consumer Spending, Factory Production, Job Cuts, Manufacturing, Manufacturing Economy, Breaking Business News
stumbleupon :Analysts: U.S. Economy Weakening Faster Than Expected   digg: Analysts: U.S. Economy Weakening Faster Than Expected   reddit: Analysts: U.S. Economy Weakening Faster Than Expected   del.icio.us: Analysts: U.S. Economy Weakening Faster Than Expected

The U.S. manufacturing economy unexpectedly contracted in December, ending a streak of 10 consecutive months of growth and sinking to its lowest point in almost five years, a private research group said Wednesday. The decline suggests that the overall economy may be weakening faster than some economists predicted.

The figures are closely watched because a slowdown in factory production can translate to job cuts, which in turn reduces consumer spending -- a major component of the economy.

The Institute for Supply Management, a Tempe, Ariz.-based private research group, said its manufacturing index registered 47.7 last month, down 3.1 percentage points from the 50.8 recorded in November. A reading above 50 indicates growth; below that level indicates contraction.

Comments for this post are now closed


 

Comments
7
Pending Comments
0

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

Hint sample
View Comments:
collapse ajax2 See Profile I'm a Fan of ajax2

WASHINGTON (AP) - Mortgage application volume declined 11.6 percent during the week ending Dec. 28, according to the trade group Mortgage Bankers Association's weekly application survey.

favoriteFavorite Flag as abusive Posted 01:21 PM on 01/03/2008
collapse FightingTheRight See Profile I'm a Fan of FightingTheRight

Worsening faster than expected by who??!!!

favoriteFavorite Flag as abusive Posted 11:05 AM on 01/03/2008
collapse wadenelson1 See Profile I'm a Fan of wadenelson1

Great picture choice. MAN engines are built in Germany.

favoriteFavorite Flag as abusive Posted 08:55 AM on 01/03/2008
collapse getoffmedz See Profile I'm a Fan of getoffmedz

Never-ending pointless wars, global oil exploitation driving inflation, NO research & development (cuts into profits), out-sourcing employment, illegal immigration, higher taxes, government protection of irresponsible corporate interests during the past eight years are ruining our economy and reducing YOUR way of life to third world status.

Working families two paychecks into credit card debt and upside-down on their mortgages are totally screwed.

By March EVERYONE will feel the effects of the absolute worst administration in our once proud history. The long-term effects of these criminals now in office amount to a landmine in our economy.

favoriteFavorite Flag as abusive Posted 08:31 AM on 01/03/2008
Comments are closed for this entry

You must be logged in to reply to this comment. Log in

 

Stock Quote

Enter a ticker symbol below:

Data provided by AOL



 

 Site  Web ask.com