WASHINGTON (AP) — A spate of data Thursday painted a mixed picture of the U.S. economy: Demand for long-lasting manufactured goods fell and slightly fewer people signed contracts to buy homes. At the same time, the job market looked a little better.
Taken together, the reports suggest the economy is growing only modestly and not quickly enough to spur much hiring.
"The economy overall has only weak forward momentum," Nigel Gault, chief U.S. economist at IHS Global Insight, said in a note to clients. "The news from housing may be improving, but manufacturing is struggling now."
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