NEW YORK — U.S. manufacturing contracted for a third straight month in April while the number of workers claiming jobless benefits hit a four-year high and planned layoffs soared, according to data today that showed the economy remained on shaky ground. Other data showed personal spending in March was stronger than expected — a bit of good news in an economy that is largely fueled by consumer spending — but inflation pressures increased. The manufacturing news, released by the Institute for Supply Management, was marginally better than expected, though it was still the fourth time in five months the index showed manufacturing contracting. For the full story visit http://www.latimes.com/business/la-fi-econ2-2008may02,0,813826.story
