Weak factories, sentiment show shaky U.S. recovery

Manufacturing output contracted in May for the second time in three months and families took a dimmer view of their economic prospects in early June in signs the American economy's recovery is on shaky ground.

Factory production shrank 0.4 percent last month, the Federal Reserve said on Friday.

"It's more convincing evidence that the economy is stuck in low gear," said Joe Manimbo, a market analyst at Travelex Global Business Payments.

Until recently, manufacturing had been a buttress of strength for the U.S. economy, helping it to resist headwinds from Europe's snowballing debt crisis.

Read Full Article from Chicago Tribune

- Posted: 2012-06-15 12:14:46

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