WASHINGTON — Data this week generated a mixed report card of the U.S. economy, showing both resilience in the face of high inflation and signs of troubles ahead.
Consumers continue to spend, albeit with less gusto, and applications for unemployment benefits remain historically low. The once-booming housing market is deteriorating fast, while the manufacturing sector is losing momentum, but not as quickly as feared.
One illustration of the conflicting forces at play was a survey of manufacturers in the Federal Reserve Bank of Philadelphia’s region: About 26% of producers reported increased activity, while 20% noted a decrease.
