Story here from Yahoo News. (H/T Hot Air)

Excerpt:

New evidence of a slowing economic rebound emerged Thursday in reports that manufacturing activity is slowing after helping drive the early stages of the recovery.

Factory output fell in June, according to a government report on industrial production. It was the sharpest monthly drop in a year. And two regional manufacturing indexes sank this month. …

Separately, the Labor Department said wholesale prices fell for a third straight month. Prices were pulled down by a drop in energy costs and the biggest plunge in food costs in eight years. But excluding those two volatile commodities, inflation was nearly flat. …

Adding to concerns in the manufacturing sector were steep drops reported Thursday in the Empire State and Philadelphia Fed Manufacturing indexes.

CNN Money explains what went wrong for the Obammunists.

Excerpt:

The U.S. Chamber of Commerce slammed President Obama’s economic policies Wednesday, saying administration officials “took their eyes off the ball” and “neglected” to focus on job creation.

A letter posted to the business group’s site and a summit with 500 business leaders were the latest moves in an ongoing battle between big business and the Obama administration.

The two are at odds over the best way to keep the recovery from slipping into a double-dip recession. The Chamber believes tax cuts are key to job creation. The Obama administration, however, has focused on stimulus and spending to create jobs.

The Chamber said in its letter that the administration “vilified industries while embarking on an ill-advised course of government expansion, major tax increases, massive deficits and job-destroying regulations.”

Democrat voters think that a left-wing president who opposes free trade deals with Panama, Colombia, etc., and who implements socialist policies will help the working man to keep his job. But they could not be more mistaken. Attacking businesses causes businesses not to hire anyone. And workers won’t spend money when they are afraid of their job disappearing. Which business hires people when there is no demand for products and services? Government’s job is to encourage businesses to hire by cutting regulations and taxes – that’s what creates sustainable consumer demand.

Just wait until he legalizes 20 million illegal immigrants. Then his union buddies will really get a little lesson in supply and demand.