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Thursday, Mar 28, 2024

Factories weak in early May, job market soft

NEW YORK — The U.S. factory sector started the month on a weak note after declining in April, according to data released today, while the number of workers stuck on jobless rolls hit a four-year high. The data paint a weak picture of the U.S. economy but also send mixed signals on inflation, leaving the Federal Reserve in a dilemma as it seeks to support the economy while keeping price pressures in check. Factory activity in the U.S. mid-Atlantic region shrank for a sixth straight month in May while manufacturing in New York State also declined this month, according to reports by regional Federal Reserve banks. For the full story visit http://www.latimes.com/business/la-fi-econ16-2008may16,0,1415154.story

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