Economic Setbacks Continue During Vacation

President Barack Obama’s 10-day family vacation on Martha’s Vineyard won’t bring any escape from the nation’s economic woes or efforts to keep a faltering recovery on course. Amid golf games and bike rides, the president is getting daily economic briefings from his advisers, and he will be bracing for more disappointing reports this week. Home sales probably fell in July and economic growth for the second quarter likely will be revised to 1.4 percent rather than the 2.4 percent annual rate calculated last month, according to economists surveyed by Bloomberg News before the figures are released. That follows data released Aug. 19 -- the day Obama left for the island off the coast of Massachusetts -- showing jobless claims rose more than forecast and manufacturing in the Philadelphia region unexpectedly shrank. Read more here:

Economic Setbacks Continue During Vacation