Mexican Media Brands
Weak U.S. Economy May Stay that Way Until 2014
Sluggish factory output and slumping home sales in September signaled that the U.S. economy was weak even before the government shutdown earlier this month, Bloomberg News reports.
#economics
Share
Sluggish factory output and slumping home sales in September signaled that the U.S. economy was weak even before the government shutdown earlier this month, Bloomberg News reports.
The Federal Reserve says manufacturing grew by a downwardly revised 0.5% in August and only 0.1% in September. Growth in auto production accounted for more than half the improvement in August and all of it in September. The Fed says vehicle and components output in the U.S., which rose 5% in August, increased 2% last month.
Sales of previously owned homes fell nearly 6% last month the biggest drop in more than three years, according to the National Assn. of Realtors. Bloomberg notes that mortgage rates hit a two-year high in September, suggesting slower expansion ahead for the real estate market.
Analysts tell the news service they expect Americans to remain cautious in the fourth quarter. Whether consumer confidence rises will depend in part on how they interpret Congress's agreement to fund the federal government into early 2014.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.