More news about Biden's booming economy. "Manufacturing Contracts at Steepest Pace Since Covid Lockdown Crash, Survey Says"

[Markle]

More news about Biden's booming economy.

"Manufacturing Contracts at Steepest Pace Since Covid Lockdown Crash, Survey Says"
JOHN CARNEY 3 Jan 2023

The manufacturing sector in the United States contracted at the fastest pace since the anti-pandemic lockdowns of 2020, data from a survey of purchasing managers showed Tuesday.

The S&P Global purchasing managers index (PMI) for the manufacturing sector fell to 46.2 in December from the already depressed 47.7 November reading. That is the lowest score for the index since May of 2020 and unchanged from the preliminary reading.

This is the second straight month in which the S&P Global PMI fell below 50, the level that indicates a contraction.

S&P said the downturn was rooted in weak client demand which drove faster contractions in output and new orders. Weak demand is also slowing employment growth, although firms reported a slight increase in payrolls.

Manufacturing Contracts at Steepest Pace Since Covid Lockdown Crash, Survey Says

S&P Global's survey indicates a second consecutive month of contraction. | Economy

www.breitbart.com

###

I'm pretty certain that my Democrat friends here at USMB will find a way to blame President Trump for this contraction.

 

[JGalt]

Here's a chart for a visual. Notice how manufacturing contracts hit the ground running when we first came out of the pandemic shutdown, and how they're fizzling out in Biden's economy. Obama told us this guy was a fuckup but in their typical fashion, Democrats didn't listen.

 

[Yarddog]

More news about Biden's booming economy.

"Manufacturing Contracts at Steepest Pace Since Covid Lockdown Crash, Survey Says"
JOHN CARNEY 3 Jan 2023

The manufacturing sector in the United States contracted at the fastest pace since the anti-pandemic lockdowns of 2020, data from a survey of purchasing managers showed Tuesday.

The S&P Global purchasing managers index (PMI) for the manufacturing sector fell to 46.2 in December from the already depressed 47.7 November reading. That is the lowest score for the index since May of 2020 and unchanged from the preliminary reading.

This is the second straight month in which the S&P Global PMI fell below 50, the level that indicates a contraction.

S&P said the downturn was rooted in weak client demand which drove faster contractions in output and new orders. Weak demand is also slowing employment growth, although firms reported a slight increase in payrolls.

Manufacturing Contracts at Steepest Pace Since Covid Lockdown Crash, Survey Says

S&P Global's survey indicates a second consecutive month of contraction. | Economy

www.breitbart.com

###

I'm pretty certain that my Democrat friends here at USMB will find a way to blame President Trump for this contraction.

they dont really want manufacturing, it uses oil and other fuels... they would rather have it done in another country. How many foundries and steel plants are left in the U.S.? There has been a war against manufacturing in the U.S. for some time.

 

[Harpy Eagle]

The Fed is getting exactly what they want to happen.

 

[The5thHorseman]

Here's a chart for a visual. Notice how manufacturing contracts hit the ground running when we first came out of the pandemic shutdown, and how they're fizzling out in Biden's economy. Obama told us this guy was a fuckup but in their typical fashion, Democrats didn't listen.

View attachment 744609

You do understand that

A) the period coming out of covid is not the mean, it's an extreme outlier

B) GDP measures "Production"....the larger the number, the better (for the most part)

C) John Galt is a character created by Ayn Rand.


Right?

 

[Markle]

You do understand that

A) the period coming out of covid is not the mean, it's an extreme outlier

B) GDP measures "Production"....the larger the number, the better (for the most part)

C) John Galt is a character created by Ayn Rand.


Right?

Are the facts presented true or false?

 

[The5thHorseman]

Are the facts presented true or false?

Of course...why else would I post them.

 

[The5thHorseman]

More news about Biden's booming economy.

"Manufacturing Contracts at Steepest Pace Since Covid Lockdown Crash, Survey Says"
JOHN CARNEY 3 Jan 2023

The manufacturing sector in the United States contracted at the fastest pace since the anti-pandemic lockdowns of 2020, data from a survey of purchasing managers showed Tuesday.

The S&P Global purchasing managers index (PMI) for the manufacturing sector fell to 46.2 in December from the already depressed 47.7 November reading. That is the lowest score for the index since May of 2020 and unchanged from the preliminary reading.

This is the second straight month in which the S&P Global PMI fell below 50, the level that indicates a contraction.

S&P said the downturn was rooted in weak client demand which drove faster contractions in output and new orders. Weak demand is also slowing employment growth, although firms reported a slight increase in payrolls.

Manufacturing Contracts at Steepest Pace Since Covid Lockdown Crash, Survey Says

S&P Global's survey indicates a second consecutive month of contraction. | Economy

www.breitbart.com

###

I'm pretty certain that my Democrat friends here at USMB will find a way to blame President Trump for this contraction.

12,934,000: Manufacturing Jobs Hit 14-Year High

 

[Markle]

Of course...why else would I post them.

You didn't post them.

 

[Markle]

12,934,000: Manufacturing Jobs Hit 14-Year High

2008 we were in the depths of the 2008 crash.

• The Great Recession, one of the worst economic declines in US history, officially lasted from December 2007 to June 2009.

Bottom line is that the Fed is going to continue to raise interest rates. Their goal is to get inflation down to 2%.

 

[The5thHorseman]

You didn't post them.

A) the period coming out of covid is not the mean, it's an extreme outlier

B) GDP measures "Production"....the larger the number, the better (for the most part)

C) John Galt is a character created by Ayn Rand.

 

[The5thHorseman]

2008 we were in the depths of the 2008 crash.

• The Great Recession, one of the worst economic declines in US history, officially lasted from December 2007 to June 2009.

Bottom line is that the Fed is going to continue to raise interest rates. Their goal is to get inflation down to 2%.

2%?

That's so 20teens...

 

[Markle]

2%?

That's so 20teens...

Two percent.

What income brackets are being crushed the most by the current rate of inflation the most? How is that good for anyone?

 

[Markle]

A) the period coming out of covid is not the mean, it's an extreme outlier

B) GDP measures "Production"....the larger the number, the better (for the most part)

C) John Galt is a character created by Ayn Rand.

 

[g5000]

Higher interest rates are working. Consumer demand is slowing. As a result, global PMI has been contracting. This is cooling the global economy, which is exactly what the Fed and other central banks have been shooting for.

This is affecting the entire global economy, not just the US. So trying to make it about Biden is pure ignorant BDS. Biden has ZERO control over interest rates.

With that said, PMI is a leading economic indicator. Employment is a trailing indicator. That's why employment takes a while to rebound during a boom.

PMI is a good measure of a pending recession. How deep the recession will be is anyone's guess.

However, while PMI is still below 50, it is rising from its lows.

 

[g5000]

The danger of high interest rates, besides cooling consumer demand, is that there is an unprecedented amount of debt in the world. When all those loans reset, they are resetting to higher interest rates and that could wreak havoc for a lot of businesses and developing nations.

 

[Faun]

More news about Biden's booming economy.

"Manufacturing Contracts at Steepest Pace Since Covid Lockdown Crash, Survey Says"
JOHN CARNEY 3 Jan 2023

The manufacturing sector in the United States contracted at the fastest pace since the anti-pandemic lockdowns of 2020, data from a survey of purchasing managers showed Tuesday.

The S&P Global purchasing managers index (PMI) for the manufacturing sector fell to 46.2 in December from the already depressed 47.7 November reading. That is the lowest score for the index since May of 2020 and unchanged from the preliminary reading.

This is the second straight month in which the S&P Global PMI fell below 50, the level that indicates a contraction.

S&P said the downturn was rooted in weak client demand which drove faster contractions in output and new orders. Weak demand is also slowing employment growth, although firms reported a slight increase in payrolls.

Manufacturing Contracts at Steepest Pace Since Covid Lockdown Crash, Survey Says

S&P Global's survey indicates a second consecutive month of contraction. | Economy

www.breitbart.com

###

I'm pretty certain that my Democrat friends here at USMB will find a way to blame President Trump for this contraction.

Manufacturing employment is up 6% under Biden so far. Jobs numbers come out on Friday so we'll see then how it's going.

 

[Ringo]