factorys at 12 year high

Discussion in 'Economy' started by Truthmatters, Feb 1, 2011.

  1. Truthmatters
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    Factory activity grows at fastest pace in 7 years: Associated Press Business News - MSN Money


    Factory activity expanded in January at the fastest pace in nearly seven years, as manufacturers reported a sharp jump in new orders.

    Still, builders spent less on projects in December, pushing annual construction spending down to a decade low.

    The Institute for Supply Management, a private trade group, said Tuesday that its index of manufacturing activity rose last month to 60.8, from 58.5 in December. The sector has expanded for 18 straight months, and January's reading was the highest since May 2004. Any reading above 50 indicates expansion.
     
  2. Truthmatters
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    My bad , I dont know where I got the 12 from its 7 not 12
     
    Last edited: Feb 1, 2011
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    It does not mean much when People do NOT have Jobs.
     
  4. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    :clap2:Obama is THE MAN!!!!!!:clap2:
     
  5. Truthmatters
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    Ummm guys this is good news for the US.

    This will translate into more jobs.

    Why does the right seem to want us not to revcover?
     
  6. asterism
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    asterism Congress != Progress

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    Big difference between growing fastest in 12 years and being at a 12 year high (or 7).

    If I used to make a million shingles a month and business declined so much that I only make 100 shingles a month then one month I make 200 shingles, that's a 100% increase. Sounds good except it's nowhere near a million.
     
  7. asterism
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    asterism Congress != Progress

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    You don't know that just by the information given. Are the firms profitable or just barely hanging on?

    You don't know that by just the information given. Are the factories at high enough capacity to hire more workers or are there still only part time shifts?

    :cuckoo:
     
  8. Truthmatters
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    Did you even read it?


    Manufacturers added 136,000 jobs in 2010, the first annual net gain since 1997. And the trade group's employment index last month rose to its highest level since 1973.

    Still, the sector lost almost 2.2 million jobs in 2008 and 2009. And manufacturers have managed to boost output in recent years by making their operations more efficient and getting more work out of the employees they already have.

    Brian Bethune, an economist at IHS Global Insight, said he expects manufacturers will likely add about 10,000 to 15,000 jobs a month for the first few months this year. The January jobs report will be released Friday.

    One reason that hiring expectations are rising is that new orders, export orders, and order backlogs all rose in January. That suggests U.S. factories will continue to increase output in the coming months.

    "These companies have been running lean and mean, and now they've got an orders backlog," Bethune said. That's likely to push them add some workers, he said.
     
  9. RetiredGySgt
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    RetiredGySgt Platinum Member

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    2.2 million jobs lost and you think we should be excited about 136 thousand new jobs? Less then 10 percent? Hell barely over 5 percent of the losses?
     
  10. asterism
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    asterism Congress != Progress

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    Yes. And it seems that unlike you, I understood it.

    Nothing about that shows improvement, it's just not quite as dismal. Getting worse at a slower pace is not the same as getting better.

    Meaningless prediction.

    A good January doesn't necessarily mean a good February, March, April, or anything else.

    I'll believe it when I see it. Bethune isn't exactly known for making correct predictions:

    Mortgage rates sink again in most recent week - Apr. 2, 2009

    Swine flu could mean new threat to US and global economy

    Inflation a no-show in July, likely to stay muted

    Those are all from 2009, all of them wrong.
     

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