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Backsliding?

9:48 AM, Feb 15, 2013 • By GEOFFREY NORMAN
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From the AP, not such good news on the recovery:

U.S. factories slowed production in January after two solid months of cranking out goods. The weakness reflected a big drop in output at auto factories that is likely temporary. 

Manufacturing output fell 0.4 percent in January from December, the Federal Reserve said Friday. The decline followed increases of 1.1 percent in December and 1.7 percent in November.

Not to worry, however, because:

Economists expect healthier output in 2013, partly because U.S. companies are sitting on large amounts of cash and appear poised to invest some of it in equipment and machinery. Economies in Europe are also healing, and growth in Asia is expected to improve.

But, then, yesterday the AP was reporting that:

Germany's economy shrank more than expected late last year, and the slowdown in Europe's largest economy deepened the region's ongoing recession. That's a troubling sign for the U.S., because sales to Europe have been a boon for American companies.     


Leaving one to wonder when, and if, the recovery will begin to ... well, recover.

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