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Obama falters in Gallup poll on economy: what that says about the recovery

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“The good news is over the past four years, we’ve helped more responsible homeowners stay in their homes,” Obama also said in Galesburg. “And today, sales are up and prices are up, and fewer Americans see their homes underwater.”

And then this, from the president: “Now, today, a rising stock market has millions of retirement balances going up, and some of the losses that had taken place during the financial crisis have been recovered.”

True?

One recent manufacturing industry report found the “pace of growth in the US manufacturing sector accelerated in July to the highest level in two years as new orders surged,” according to Reuters. Reuters said the report’s data supports “the view the economy will pick up in the second half of the year.”

Others see that manufacturing sector job growth has jumped around and ultimately leveled off since its February 2010 low point, reports the Washington Post. Obama has repeatedly championed the 500,000 manufacturing jobs added, but the paper’s Glenn Kessler reports that those gains were made a year ago and since then the trend is “downhill.”

“No one doubts that US-based manufacturing has experienced a very steep rebound from a deep recession,” said Alan Tonelson, a research fellow at the US Business and Industry Council in an interview with Kessler, but “it has slowed to a crawl over the last year or so.”

Meanwhile, on Obama’s second point, in 2012 home sales “rebounded to the strongest level in five years” – with CNN citing low mortgage rates, a drop in foreclosures, and rising home prices as drawing more consumers back to the market.

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