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More data pointing to slowdown in US economy

December 4, 2012 by walden9

More data pointing to slowdown in US economy 04 Dec 2012 Following a dismal report last week on retail sales for November, the first month of the holiday shopping season, manufacturing data released Monday confirmed that the US economy is weakening...The report registered a return to negative growth after two months of tepid expansion. The PMI has been below 50 for four of the last six months. The scale of the decline is indicated by the fact that the ISM’s factory index averaged 55.2 in 2011 and 57.3 in 2010...The fall in manufacturing coincides with slumping consumer spending. On Friday, the Commerce Department reported that consumer spending fell in October for the first time in five months and income growth stalled, with wages and salaries actually dropping 0.2 percent.

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