US manufacturing shrinks for first time in 3 years

[red states rule]

The Summer of Recovery IV continues and Obama's "shitload of economic experience" is on display once again

I wonder how the liberal media, obama, and his lap dogs will blame Bush for this





WASHINGTON (AP) -- U.S. manufacturing shrank in June for the first time in nearly three years, adding to signs that economic growth is weakening.

Production declined, and the number of new orders plunged, according to a monthly report released Monday by the Institute for Supply Management.

The slowdown comes as U.S. employers have scaled back hiring, consumers have turned more cautious, Europe faces a recession and manufacturing has slowed in big countries like China.

"This is not good," said Dan Greenhaus, chief economic strategist at BTIG, an institutional brokerage. Though the report "does not mean recession for the broader economy, it is still a terribly weak number."

The trade group of purchasing managers said its index of manufacturing activity fell to 49.7. That's down from 53.5 in May. And it's the lowest reading since July 2009, a month after the Great Recession officially ended. Readings below 50 indicate contraction.


http://hosted.ap.org/dynamic/stories/U/US_ECONOMY_MANUFACTURING?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-07-02-11-11-45

[mundame]

I'm glad you put up a thread on this, RSR. I read it yesterday and told my husband I think this is the Moment of Truth, that we really are going downhill economically now. Lowest "in three years" means since the severe financial crisis. Today the Journal reports that our exports are the lowest growth in ten years.

And they keep retroactively lowering all the government report figures. I keep wondering why they can't get it right in the first place.

Actually, I don't wonder. I assume they are lying and hoping for the best, and it keeps on not working out.

[Gaffer]

I thought is was an article about manufacturing shrinks. Then I looked closer. :rolleyes:

[red state]

I thought is was an article about manufacturing shrinks. Then I looked closer. :rolleyes:

Yeah. I thought we were in such terrible shape that the gov. was starting to recruit Psychiatrists or something. HA!!! Still, it ain't a bad idea (except for the gov. would probably recruit isSLUMist phsychiatrists who will later put us all out of our misery. Hmmmm. Still that is a thought as well. HA!

Wait on it....gas prices will go WAY down, the media will report outstanding progress within the job market and B.O. will say he's brought us back from the depression OR still needs four more years to undo (or should I say or be more accuracy) what BUSH started. Face it, B.O. is simply BUSH III but on steroids if you count what he's done to deprive us of libery and the pursuit of the AMERICAN dream. B.O. dreams of a day when America is just like "home" or some other country he may or may not be a citizen of.

Perhaps we ALL need our head examined for not asking how this guy is acting as president when he has dual and even triple citizenry. Funny how NPR ran a stoyr about Bachmann's dual citizenship and how it may cost her the congressional seat YET they don't have one single story that i've found for B.O. Isn't that funny....or INSANE?! Yep, we need to have our head examined!!!!

[red states rule]

New job number comes out Friday and from what I have heard it will not be pretty. Of course no matter how bad it is the Obama re-election staff will blame Republicans, blame Bush, blame Europe, and blame the weather

They will blame everyone and everything EXCEPT where the blame belongs - the White House and the current occupant of the Oval Office

[mundame]

New job number comes out Friday and from what I have heard it will not be pretty. Of course no matter how bad it is the Obama re-election staff will blame Republicans, blame Bush, blame Europe, and blame the weather



Oh, yes? That is interesting that you are seeing rumors that the Friday figures (which we are all probably watching for with interest) may be bad.

The WSJ says economists are generally expecting 100,000 jobs added. That of course is not enough to keep up --- I forget what that figure is, is it 125,000?

The May figure was 69,000, which was awful, and the unemployment rate went up a little, NOT the direction President O wanted.So basically, anything about or better than 100,000 will not be viewed as awful, but if June was another 69,000 month, there will be a wailing and a gnashing of teeth. It wouldn't be a good sign. Actually, the unemployment rate would probably rise again.

As for whose fault it is, probably not Bush or the weather --- :rolleyes: --- but it certainly is about Europe, which is diving headfirst into a dramatic recession, really bad, and China is following it right down because so much of their exports go to Europe, more than to us. We were coming out of the recession, starting a real expansion as of early this year! Things looked good for growth, but about a month ago, wham. This turndown has been so FAST.

[mundame]

"This is not good," said Dan Greenhaus, chief economic strategist at BTIG, an institutional brokerage. Though the report "does not mean recession for the broader economy, it is still a terribly weak number."

The trade group of purchasing managers said its index of manufacturing activity fell to 49.7. That's down from 53.5 in May. And it's the lowest reading since July 2009, a month after the Great Recession officially ended. Readings below 50 indicate contraction.



The above is from RSR's post -- note that is four points down in one month. That is a LOT for one month. Something is really going on. (Europe, of course, their manufacturing is plunging even in Germany, down to 47.5, IIRC. And outside Germany ---- don't even ask.) And then the next figure that came out was that our exports were down to a ten-year low!

These are HUGE jumps down, people. It would not be out of place to start getting nervous, IMO.

Forget the election; we may have a situation here.

[red states rule]

The above is from RSR's post -- note that is four points down in one month. That is a LOT for one month. Something is really going on. (Europe, of course, their manufacturing is plunging even in Germany, down to 47.5, IIRC. And outside Germany ---- don't even ask.) And then the next figure that came out was that our exports were down to a ten-year low!

These are HUGE jumps down, people. It would not be out of place to start getting nervous, IMO.

Forget the election; we may have a situation here.


http://www.massachusettsnewsdaily.com/news_images/obama-to-discuss-economy-893b6.jpg

[red state]

http://www.massachusettsnewsdaily.com/news_images/obama-to-discuss-economy-893b6.jpg

Yes, he did that and so much more. He ran on HOPE & CHANGE but I believe he left us with NO hope and just a little change in our pocket. Of course, when he's done, we won't have that or our freedom. The occupier MUST go!!! If and/or when we get rid of him, we must make CERTAIN that we NEVER get the likes of his kind in the White House EVER again!!!

[red state]

Yes, he did that and so much more. He ran on HOPE & CHANGE but I believe he left us with NO hope and just a little change in our pocket. Of course, when he's done, we won't have that or our freedom. The occupier MUST go!!! If and/or when we get rid of him, we must make CERTAIN that we NEVER get the likes of his kind in the White House EVER again!!!

Anyone care enough to ask what I'd suggest to keep his kind out of office? If so, I'll make a list of priorities that I feel important for the terribly tarnished image of the presidency.

[red states rule]

http://media.townhall.com/Townhall/Car/b/payn_c10084220120710120100.jpg