Email
Password
Remember meForgot password?
Log in with Facebook Log in with Twitter
Connect your Digital Journal account with Facebook or Twitter to use this feature.

article imageU.S. manufacturing hits three-year low

By Larry Clifton     Sep 4, 2012 in Business
Charlotte - As the Democratic Party attempts to sell the nation on another four years of President Barack Obama’s economic prescriptions, a new report shows U.S. manufacturing, in August, shrank at the fastest rate in three years.
August is the third month in a row that saw contraction in manufacturing, which has raised eyebrows of financial analysts during the first day of the Democratic Party Convention in Charlotte, according to a Reuters report published Tuesday.
Adding to concerns about the economy were separate reports that show construction spending in July fell by the most in a year.
The reports indicate private and public sectors cut back on inventing, which dims outlook for an increase in economic activity in the third quarter.
Separate data also showed construction spending in July fell by the most in a year as both the private and public sectors cut back on investment, according to a report that could dampen hopes of a pick-up in economic activity in the third quarter.
Stocks reflected the disappointing economic reports early Tuesday. The Dow Jones industrial average .DJI dropped 78.79 points, or 0.60 percent, to 13,012.05. The Standard & Poor's 500 Index .SPX fell 7.15 points, or 0.51 percent, to 1,399.43. The Nasdaq Composite Index .IXIC lost 13.56 points, or 0.44 percent, to 3,053.41.
The payrolls report, another leading economic indicator, comes out Friday, a day after the DNC is over, and will also be closely watched.
More about us maufacturing, Democratic national convention, Obama, us construction spending, us 2012 economy
More news from

Corporate

Help & Support

News Links

copyright © 2014 digitaljournal.com   |   powered by dell servers