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Stumbling Along

10:38 AM, Oct 28, 2013 • By GEOFFREY NORMAN
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Some good news about the economy might make what promises to be the unending glitches of Obamacare easier to endure. But the latest is not encouraging, with Bloomberg reporting:

Factory production in the U.S. rose less than forecast in September ...Output at factories rose 0.1 percent after a revised 0.5 percent gain in August that was smaller than initially estimated, figures from the Federal Reserve showed today in Washington.  

The slowdown is bad news in the general sense, though you might be okay with it if your prospects are keyed to continued "easing" by the Fed.  The White House, especially, will find the news dismaying since, as Timothy Aeppel writes at the Wall Street Journal:

One of the more ambitious goals President Obama set for his second term was to create 1 million new manufacturing jobs.


As the folks over at the Alliance for American Manufacturing point out, the U.S. has added only 12,000 net new manufacturing jobs since the start of 2013. 

Meaning that to reach that "ambitious goal," the U.S. economy needs to add 25,333 manufacturing jobs every month, on average, for the remainder of the President's term.

And good luck to us all, with that.

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