While housing is nearly as hot as it's been since the last time that the economy crashed, manufacturing is weak, due in part to the strength of the dollar and falling oil prices. MarketWatch staffer Steve Goldstein takes a look at the positive outlook on housing, combined with the sketchy overall outlook on the economy.

Goldstein points out that some economists have found that not all of manufacturing is stumbling, just the trade-dependent part:

The growth rate in jobs in high-trade manufacturing has slumped to a 1.1% drop by the fourth quarter of 2015, from 1.4% growth in the fourth quarter of 2014. The growth in jobs for medium-trade manufacturing has slowed to 1% growth from 2.1% growth. By contrast, the growth rate in low-trade manufacturing jobs actually has climbed to 1.8% from 1.2%.

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