Manufacturing Slowing Down ?

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

  1. Listening
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    Listening Gold Member

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    Manufacturing shrinks, first time in nearly three years | Reuters

    The Institute for Supply Management said on Monday its index of national factory activity fell to 49.7 from 53.5 the month before, missing expectations of 52.0, according to a Reuters poll of economists, and below even the lowest forecast.

    It was the first time since July 2009 that the index has fallen below the 50 mark that separates expansion from contraction. That was shortly after the U.S. economy emerged from recession.

    Manufacturing has been one of the drivers of the U.S. economic recovery, which now appears to be losing momentum over fears about the euro zone's debt crisis, a slowdown in China and uncertainty over domestic fiscal policy.

    "Clearly this is the biggest sign yet that the U.S. is catching the slowdown that is well under way in Europe and China," said Paul Dales, senior U.S. economist at Capital Economics in London.

    Dales said the report is consistent with an economy that is growing at an annualized rate of a little below 1 percent after 1.9 percent growth in the first quarter, dismissing talk that the number signaled a new U.S. recession was coming.

    A reading below 47 would be consistent with another recession, Dales said.

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    Not good news for the country.

    Hope this isn't a trend.
     
  2. Salt Jones
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    Salt Jones BANNED

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    "Gas is going to $5.00 per gallon by the 4th of July!"

    Remember that prediction?
     
  3. Listening
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    Listening Gold Member

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    This isn't a prediction.

    The numbers show it slowed....

    Can't you get anything right ?
     
  4. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    Looks like some mixed data in your link. We might not have another recession, but the economy looks like it's going to be VERY sluggish for quite awhile. If the taxes do go up as scheduled next year, then yeah, I'd say another recession is definitely in the cards.
     
  5. SniperFire
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    SniperFire Senior Member

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    Nobody really expected the economy to take such a shit and bring prices down.

    But yes, Obama's double dip now looks like a reality.
     
  6. Salt Jones
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    Salt Jones BANNED

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    And gas prices rose at some point leading to a bunch of hand wringing. I've worked in the Aerospace/Defense manufacturing industry since the day I retired from the military, 7 years ago, and we can't find enough skilled people to fill the jobs. We are booming across the nation.
     
  7. Listening
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    Listening Gold Member

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    It has been slowly rising from a very dismal low.

    I am not hoping for another downturn.

    I am hoping Obama gets beat so we can get it rolling at it's full potential.
     
  8. tjvh
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    tjvh Senior Member

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    Here comes round two... The economy and it's destroying of any hope of reelection for Obama. The catastrophe of European economies (Spain, etc.) is surely going to have a domino effect on American businesses, and we all no there will be no Stimulus this time around... It's just political suicide at this point. Companies will close their doors, and unemployment will steadily increase. The ship is going to start sinking, and the politicians are going to position themselves close to the lifeboats, unfortunately it is the American worker who will most likely be the ones left treading water.
     
  9. Salt Jones
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    Salt Jones BANNED

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    Well your hopes will be dashed, Obama will win reelection by 7%.
     
  10. tjvh
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    tjvh Senior Member

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    More likely unemployment will rise by another 7%.
     
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