By Andrew P. Napolitano
The president's men trash the Constitution to pursue antagonists
Independent voices from the TWT Communities
A survey shows U.S. manufacturing activity expanded more slowly in March than February, held back by weaker growth in production and new orders. But factories hired at the fastest pace in nine months, an encouraging sign ahead of Friday's report on March employment.
Whoever wins the presidential election likely will struggle to manage the biggest threats to the economy. That's the cautionary message that emerges from the latest Associated Press Economy Survey.
The number of Americans seeking unemployment benefits rose to a seasonally adjusted 367,000, a level consistent with only modest hiring.
Americans cut their spending at retail businesses in June for a third straight month as a weak job market has made consumers more cautious.
The economy grew at a slightly faster pace in the final three months of last year, and Americans earned more income than previously reported. That could set the stage for stronger growth this year.
Americans' income rose in December by the most in nine months, a hopeful sign for the U.S. economy after a year of weak wage gains. But consumers didn't spend any more than they had in November.
Worker productivity fell this spring more quickly than previously estimated and labor costs rose at a faster clip. The decline in worker output could mean that some companies need to hire if they want to meet growing demand.
The number of people seeking unemployment benefits dropped last week to the lowest level since early April, a sign the job market may be healing after a recent slump.
Builders broke ground on more single-family homes and apartments in June, helping the battered construction industry gain a little life after a dismal spring.
Fewer Americans applied for unemployment benefits last week, providing support for the view that there will be stronger job growth this year.
The economy grew at a moderate pace last summer, reflecting stronger spending by businesses to replenish stockpiles. More recent barometers suggest the economy is gaining momentum in the final months of the year.