U.S. productivity grew at an even slower annual rate than previously thought in the final three months of last year, but economists are hoping productivity growth will revive in 2014, reflecting a stronger economy.
The number of people seeking U.S. unemployment benefits dropped 26,000 last week to a seasonally adjusted 323,000, the lowest level in three months as layoffs remain at pre-recession levels.
Thirty-five factories were closed or torn down in Pingshan county as part of the government's drive to clear up China's notoriously smoggy skies, but shutting plants has taken a human and economic toll in lost jobs and income.
Seeking to dramatize his push for higher wages, Obama dined out in Connecticut in a restaurant where employees get considerably more than the $7.25-an-hour federal minimum.
Even so, conditions improved in most U.S. regions, helped by slight gains in areas such as employment and commercial real estate.
The National Association of Manufacturers and the Alliance for American Manufacturing have both released opinions on President Obama's $3.9 trillion budget proposal. Interestingly, they don't agree.
Republicans are dismissing President Barack Obama's new $3.9 trillion budget as nothing more than a Democratic manifesto for this fall's congressional campaigns.
A private survey shows that U.S. companies added slightly more jobs in February than in the previous month, but harsh winter weather weighed on hiring for the third straight month.
Obama sent Congress a $3.9 trillion budget that would funnel money into road building, education and other economy-bolstering programs.
“Though the southeastern Michigan economy has slowed a bit, there’s no reason to believe that this is a long-term slowdown, at most it could be described as a temporary cooling of the economy,” said Timothy Butler, associate professor of supply chain management at Wayne State’s School of Business Administration.
A monthly economic survey index dropped slightly last month but still suggests growth over the next three to six months for nine Midwestern and Plains states.
Inventories had gotten well ahead of demand in the latter months of 2013. While it appears that stocks are now coming back into balance, manufacturing growth is still likely to be slower in the first half of 2014 than in the fourth quarter of 2013.
Buffett said: “If you could have a minimum wage of $15 and it didn't hurt anything else, I would love it. But clearly that isn't the case.”
Like their peers in other sectors, industrial manufacturing CEOs are much less worried about the global economy than last year, although exchange rate volatility and energy costs are still big concerns.
U.S. manufacturing expanded more quickly last month, but a measure of production fell to its lowest level in nearly five years, likely a casualty of severe winter weather.
The Commerce Department says that spending rose 0.4 percent in January following a tiny 0.1 percent gain in December.
Buffett says the economy continues the steady improvement that began in fall of 2009 and he remains optimistic about the future.
China's manufacturing weakened in February and employers cut staff at the fastest rate in nearly five years, a survey showed Monday.
President Obama is challenging Congress to help him create jobs and rebuild the nation's infrastructure.
Check out some of this week's top headlines from across Manufacturing.net, from a phone that can self-destruct from an airplane manufacturer to more stress for Detroit from the United Auto Workers union.
A rising stock market and a more optimistic outlook among younger Americans pushed up a measure of U.S. consumer sentiment in February.
The U.S. economy grew at a 2.4 percent annual rate, significantly slower than first thought, reflecting slower consumer spending than initially estimated.
Vice President Joe Biden says his central message to Democrats is not to apologize for the party's policies heading into the 2014 midterm election.
"Comprehensive reform carries with it serious effects on our economy, along with the potential to unleash significant growth if done well," according to NAM.
While on the surface the report seems alarmingly negative, it is not. Civilian aircraft orders declined 20.3 percent in January and 22.3 percent in December; aerospace has an extremely volatile order book month to month but its backlogs extend many years into the future.