Economic Recovery Showing New Signs of Losing Steam

Reuters via CNBC ^ | 7/15/2010 | Reuters & CNBC

[Qbert]

Investors got a strong dose of sobering economic news Thursday as several key manufacturing indexes show that the recovery is losing steam.

The few bright spots: New claims for jobless benefits fell to their lowest level in nearly two years, while wholesale inflation remained tame.

Among the negative indicators reported Thursday, the New York Federal Reserve's "Empire State" general business conditions index fell almost 15 points to 5.08 in July, the lowest since December 2009.

Also, industrial production edged up 0.1 percent in June, but manufacturing activity dropped amid fears that the economic recovery is stalling, the Federal Reserve said.

Finally, factory activity growth in the U.S. Mid-Atlantic region fell unexpectedly this month, a survey by the Philadelphia Federal Reserve Bank said.

"Overall, U.S. fundamentals are making the U.S. less attractive to investors and reinforcing the idea that investors want to move on from the fiscal problems in Europe," said Kathy Lien, director of currency research at GFT Forex in New York.

US stocks fell on the manufacturing data, while Treasury prices rose. The US dollar fell further against the euro and yen.

[Qbert]

Bummer of Recovery.

[TSgt]

Perhaps it is time to consult the wheel.

[BuckyKat]

Cheez - it must be really bad if even Reuter’s is talking about it.

[WOBBLY BOB]

more new signs!!!

http://www.freerepublic.com/focus/f-news/2552843/posts

[Parmy]

Losing steam. It never did become gaseous. It was always condensed.

[Tarpon]

We should try the Hugo Chavez Show.

[wku man]

Let's see if we can't clean this headline up.

"The Economic Recovery That We're Still Waiting For Showing New Signs of Losing Never Having Gained Steam"

There, fixed it.

Scouts Out! Cavalry Ho!

[himno hero]

Hows that Beatles song go? Can’t buy me love?

You cant buy a recovery when the people have no faith nor confidence in the Gov’t....

With small business being the backbone, it proves one thing..

Money cant buy meee lovvvvvvve.....

[Lazamataz]

You have to have steam to lose steam.

[RedMDer]

Have you wanted to donate to Free Republic, but:

• You lost your job last year
• The medical bills from a serious illness are piling up
• The pay check doesn’t go as far as the bills
• There are more pressing needs: food, clothing, medicine

Well, Bucko, today is your lucky day!!

FReeper leapfrog0202 will donate $10 on behalf of 15 people

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FReeper Verbosus will donate $10 on behalf of 15 people

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• leapfrog0202
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[calex59]

It never had any steam to lose. What a bunch of lying a**hats.

[Le Chien Rouge]

Where art thou, Captain Obvious???

[erod]

WHAT RECOVERY!!!????

[central_va]

Green Shoots™

[nhwingut]

[vanilla swirl]

How unexpected!

Shocked! Shocked I say!

[musicman]

[musicman]

[Allegra]

There was a recovery? And I missed it?

I hate it when that happens.

[musicman]