US Manufacturing Sector Contracts for First Time Since 2009

[iluvatar5150]

https://www.washingtonpost.com/busi...sector-contracted-first-time-since-data-show/

U.S. Manufacturing Sector Shrinks for First Time Since 2009

The U.S. manufacturing purchasing managers’ index (PMI) fell to 49.9 in August from 50.4 in July, according to IHS Markit. It is the first time the closely watched indicator has fallen below 50 since September 2009.

The PMI index is based on a survey of manufacturers about production, output, orders, inventory, pricing and other factors. A score below 50 on the index signifies the sector is contracting.

“If manufacturing isn’t in a recession, it is pretty close,” said Mark Zandi, chief economist for Moody’s Analytics.

#maga

 

[High Fidelity]

Thanks Obama














while it lasted.

 

[iluvatar5150]

I didn't expect this to get much traction, but wow.

 

[Speedwell]

I didn't expect this to get much traction, but wow.

The Left and much of the non-Trump Right are not surprised, and the rest don't want to talk about it.

 

[iluvatar5150]

Still shrinking:

U.S. manufacturing activity falls to lowest level in a decade

 

[Allandavid]

Still shrinking:

U.S. manufacturing activity falls to lowest level in a decade

All part of Trump’s master plan..........apparently?

 

[KCfromNC]

Are we tired of all this winning yet?

 

[essentialsaltes]

His presidency started off so hopefully in January 2017

President Trump Announces Manufacturing Jobs Initiative
President Trump announced today that as part of his overall job creation agenda he will launch a Manufacturing Jobs Initiative.

The President will be meeting with some of the world’s most successful and creative business leaders to share their experiences and gain their insights.


What a difference half a year makes.

With corporate chieftains fleeing, President Donald Trump abruptly abolished their White House business councils on Wednesday - the latest fallout from his combative comments on racially charged violence in Charlottesville, Virginia.

In a face-saving effort, he tweeted from Trump Tower in New York: "Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both. Thank you all!"

 

[hedrick]

Remember, the President has limited impact on the economy. Tariffs are a problem. So is Trump's failure to do something that would really have helped: the infrastructure initiative he promised. But we're at about the point in the business cycle where you'd expect this.

 

[The_Barmecide]

Remember, the President has limited impact on the economy.

Unless he's Obama...then he's solely responsible for the entire economy, even the stuff that happened before he took office.

Tariffs are a problem.

Not in Trumponomics! In Trumponomics they bring money INTO the economy!

So is Trump's failure to do something that would really have helped: the infrastructure initiative he promised. But we're at about the point in the business cycle where you'd expect this.

General rule of thumb: the word "Trump" negates the meaning of the word "promise" when they occur in the same sentence.

 

[Ken-1122]

Still shrinking:

U.S. manufacturing activity falls to lowest level in a decade

Is this due to the trade issues with China?

 

[hedrick]

Is this due to the trade issues with China?

It’s hard to attribute it to any one cause. Surely that’s part of it.