Industrial production sinks in April; jobless claims inch up - USATODAY.com
The Federal Reserve reported Thursday that industrial production dropped 0.7% last month, more than double the decline that economists had expected.
The weak economy has triggered four straight months of job losses, often a sign that a recession has started. However, the April drop was just one-fourth the size of job losses in March, giving hope that the current economic slowdown may not be as severe as the past two recessions.
"...the economy is strong, and getting stronger....." -- George W. Bush