Manufacturing down first time in 3 years

Discussion in 'Economy' started by Leweman, Jul 2, 2012.

  1. Leweman
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    Leweman Gold Member

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    Some crappy economic news. Demand being affected in Europe due to financial crisis.

    The most troubling sign in the report was a sharp drop in a measure of new orders. The gauge plunged by the most in a decade, from 60.1 to 47.8. That's the first time it has fallen below 50 since April 2009, when the economy was still in recession.


    Consumers are less confident in the economy than they have been at any time all year, according to a measure of consumer sentiment released Friday. Worries about slowing job growth are outweighing the benefits of lower gas prices. A separate measure of consumer confidence, issued Tuesday, showed that confidence fell for the fourth straight month.

    Overall hiring has slowed sharply this spring, raising concerns about the pace of the recovery. Employers added an average of only 73,000 jobs per month in April and May. That's much lower than the average of 226,000 added in the first three months of this year. The unemployment rate rose in May to 8.2 percent from 8.1 percent, the first increase in a year.




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  2. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Douger BANNED

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  4. iamwhatiseem
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    iamwhatiseem Gold Member

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    If your so inclined to look it up...I said this would happen towards the end of May.
    I am in manufacturing...the decline began the 3rd week of May and continued through the entire month of June. July is hard to tell...it is always a down month. So far it seems about average for a July....at least I hope.
    If August manufacturing is not a windfall...look out. August/September are CRUCIAL earning months for the manufacturing sector.
    I am worried.
     
  5. Trajan
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    Trajan conscientia mille testes

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    its gonna be interesting to see the next 2 months of unemployment stats. this has a tailing affect, this fray we should get Junes.....after the what, 70K last month, the manuf. downturn will take a while longer to bite in that respect, come Julys report in august, its going to be ugly.
     
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  7. Trajan
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    Trajan conscientia mille testes

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    I did it.....shit........eat me!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  8. iamwhatiseem
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    Once again - I guess Truthdon'tmatter should have made this thread so that way people would post in it. :eusa_hand:
    At any rate - this is probably the biggest story economically speaking for the entire year.
    This is big. This is the largest decline in manufacturing in 3 years...and not in a month that normally declines like this. WallStreet doesn't really care about real economic news like this, so the effect was nominal on the markets, which once again points to the fact that wall street is disconnected from reality.
    What will be extremely bad is if August/September we don't see a H U G E rise in manufacturing. We have to. If the earning season is weak...oh boy...watch out for double-digit employment again in October....just in time for the election.
     

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