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Numbers Point to Weakening Economy

The latest numbers are sketching a picture of a weakening U.S. economy, held back by sluggish home buying and factory production.

Terry Vine, Getty Images

Today’s reports reveal that Americans bought fewer homes in June than in May. Manufacturing in the Federal Reserve’s Philadelphia region contracted again. And a measure of future U.S. economic activity fell in June.

There’s also word that the number of Americans seeking unemployment benefits rose last week — but the figure was pushed higher by seasonal factors.

 

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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