While you were sleeping US data lack lustre

Thu, 16 May 2013

By Margreet Dietz May 17 (BusinessDesk) - The latest reports on the US economy pointed to weakness, or at the least slower forward momentum, leading investors to press the brakes on Wall Street's record run. The Philadelphia Federal Reserve Bank said its gauge of factory activity in the mid-Atlantic region dropped to minus 5.2 in May, while the Commerce Department said housing starts sank 16.5 percent to an 853,000-unit annual rate in April. “The US economy is still struggling with lacklustre growth and the recovery is far from self-sustaini...

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