U.S. jobless benefits rolls grow; key factory output gauge slumps

Published by
Reuters

By Dan Burns (Reuters) – The number of Americans enrolling for unemployment benefits rose for a third straight week last week to the highest in eight months and a closely watched gauge of factory activity slumped this month, the newest indications the U.S. economy is slowing under the weight of rising interest rates and high inflation. The latest data are likely to further fan fears of a recession that were already on the rise with the Federal Reserve lifting interest rates at the most rapid pace in decades to blunt inflation running at the highest levels since the 1980s. A Reuters poll releas…

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