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By Donald Lambro
Growth spikes are little more than trend-free anomalies
Independent voices from the The Washington Times Communities
Topic - Daniel Meckstroth
U.S. manufacturing is recovering from a slump, and inflation may be peaking, according to data issued Wednesday that point to an economy growing slowly but steadily. Still, surging oil prices and a possible European recession threaten to drain the economy's momentum.
Manufacturers "are benefiting from the strong growth in emerging markets, and domestic businesses are confident enough in the future to continue expanding purchases of capital equipment," said Daniel Meckstroth, chief economist for the Manufacturers Alliance/MAPI, a trade group.