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Archive for March, 2012

Posted by Martin March 01, 2012

January Consumer Spending Growth Weak

Consumer spending rose less than expected in January even as incomes improved, an indication that Americans may still be unsure about the slowly recovering economy.

Personal income increased 0.3% from the prior month while spending rose 0.2%, the Commerce Department said Thursday. In December, spending was flat, but incomes rose 0.5%.

Economists surveyed by Dow Jones Newswires were expecting both spending and income to rise 0.4% in January.

Source: www.dowjones.com

Posted by Martin March 01, 2012

ISM Feb Manufacturing Index Falls

The U.S. manufacturing sector’s expansion slowed in February, according to data released Thursday by the Institute for Supply Management. The report followed disappointing data covering January consumer activity that led some economists to mark down their estimates of first-quarter economic growth.

The ISM’s manufacturing purchasing managers’ index fell to 52.4 last month from 54.1 in January. The February reading was the weakest since November. A reading above 50 indicates expanding activity.

Economists surveyed by Dow Jones Newswires had expected the February PMI to increase to 54.9.

Factory surveys from regional Federal Reserve banks as well as the ISM-Chicago’s local PMI all indicated a speed-up in activity last month. Thursday’s ISM report raises questions about the strength of the expansion on a nationwide level.

Source: www.dowjones.com