More signs point to a slowing economy

by an Unemployed White Male on June 2, 2011

in Business & Economy,Recession

By PAUL WISEMAN AP Economics Writer
WASHINGTON June 2, 2011 (AP)

The economy is tiring again.

Reports Wednesday on manufacturing and company hiring were so weak that many economists immediately downgraded their forecasts for Friday’s jobs report for May. Some analysts also slashed their estimates for growth in the April-June quarter.

“We’re definitely in a soft patch,” says Steve Blitz, senior economist for ITG Investment Research.

No one knows whether the slowdown is a temporary setback or the start of a prolonged period of anemic growth. Many analysts hold out hope that the economy will rebound in the second half of 2011.

Read more of this article at ABC news.

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