FACTBOX: Obama facing battered economy

(Reuters) - U.S. President-elect Barack Obama, due to take office at a time when the U.S. economy is in a recession that could last a long time, is pushing for swift passage of a fiscal stimulus plan expected to cost about $775 billion.

The following is a look at recent economic data that underscores the economy's fragile condition:

* U.S. factory activity tumbled to a 28-year low in December. The Institute for Supply Management's index of national factory activity fell to 32.4 -- the lowest since 1980 -- from 36.2 in November.

* Preliminary figures from major automakers show U.S. sales plunged by more than a third in December, leaving full year sales on track to end 2008 at their lowest level since 1992 at about 13.5 million vehicles. That was down from 16.2 million in 2007 and was the steepest drop for the industry since 1974, when the U.S. economy was reeling from the impact of the first oil shock.

* Sales at U.S. retailers posted a fifth straight drop in November as gasoline sales took a record tumble. The Commerce Department data showed total retail sales fell 1.8 percent to a seasonally adjusted $355.66 billion following a revised 2.9 percent plunge in October.

* The number of U.S. workers filing new claims for jobless benefits slumped 94,000 to 492,000 in the week ended Dec 27, but seasonal factors were likely behind this unexpectedly large decline as the labor market remains very soft. The number of people remaining on the benefits roll after drawing an initial week of aid rose to 4.506 million in the week ended December 20, the highest since the week ended December 4, 1982.

* U.S. employers axed 533,000 jobs in November, the most in 34 years, while the unemployment rate rose to 6.7 percent in November, the highest reading since 1993, and versus 6.5 percent in October. Data on Friday will likely show further job losses in December, with the unemployment probably rising to 7.0 percent, according to a Reuters poll.

The U.S. economy shrank at a 0.5 percent annual pace in the third quarter, the steepest decline since the third quarter of 2001. Consumer spending dropped by 3.8 percent for the sharpest pull-back since 1980, when a global oil crisis tipped the economy toward a prolonged slowdown.