Faith lessens in U.S. Banks and Government

According to a new Wall Street Journal Poll, Americans have lost faith in federal banking institutions. The recession has hit hard and people have zero confidence in government and banks. Banks, government and other institutions in the U.S. suffered a greater loss of trust than those in most other countries during the financial crisis and recession, new research suggests. That could potentially weigh on the economy for years to come.  

http://online.wsj.com/article/SB10001424052748703662804576188732849964682.html?mod=WSJ_economy_LeftTopHighlights

Economy: Factory Production Increases, Housing Stagnates

Production at U.S. factories climbed in January for a fifth consecutive month, while builders began work on fewer single-family houses, showing the expansion remains driven by manufacturing as housing stagnates.

The Fed’s report also showed total production was unexpectedly restrained by a decline in utilities as milder temperatures curbed demand for heating. Output fell 0.1 percent after a 1.2 percent increase in December.

Mining production, which includes oil drilling, decreased 0.7 percent last month. Utility output fell 1.6 percent after a 4.1 percent increase the prior month.

Automakers are benefiting from rising sales. Output of motor vehicles and parts jumped 3.2 percent in January after rising 0.2 percent a month earlier.

Business Equipment

Production of business equipment rose 0.9 percent after a 1 percent gain. Output of computers and semiconductors rose 0.9 percent after increasing 1.5 percent.

Read entire article at bloomberg.com

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