Data points to lackluster economic growth |
| Reuters - Aug 16, 2012 |
A trend measure of Americans signing up for new jobless benefits fell close to a four-year low last week, but weakness in a regional factory gauge showed U.S. recovery still faces an uphill climb.
Other data on Thursday gave mixed signals about the strength of an incipient housing recovery, with groundbreaking on new homes falling slightly in July even as building permits rose.
Taken together, the data reinforced the view that economic growth might pick up in the second half of the year but would still be lackluster.
Growth and hiring were disappointing in the spring and expectations that the Federal Reserve could unleash more economic stimulus have grown, although the likelihood of action at its next meeting may be dimming.
"For the Fed, the issue was whether the economy was sliding toward the abyss and it doesn't seem to be. But it's certainly not improving," said Pierre Ellis, an economist at Decision Economics in New York.
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- Posted: 2012-08-16 15:52:50
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