- Nov 26, 2011
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There are a lot of needles pointing at the astronomical debt bubble, but Deficit Donald's failing tariff war is the longest and closest needle to popping that bubble.
A key manufacturing index shows the US remains in contraction territory
Manufacturing activity continued to lag in November amid a decline in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.
The reading came in at 48.1 vs. an expectation of 49.4 and the previous month’s reading of 48.3.
Though the level is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. A reading below 50 represents contraction; November was the fourth straight month below the expansion level.
<snip>
The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. This will weigh on job growth and capex over the next few months, to the point where we are not ready to rule out a further [Federal Reserve] easing in January,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note.
A key manufacturing index shows the US remains in contraction territory
Manufacturing activity continued to lag in November amid a decline in inventories and new orders, according to the latest ISM Manufacturing reading released Monday.
The reading came in at 48.1 vs. an expectation of 49.4 and the previous month’s reading of 48.3.
Though the level is usually reported as a simple number, it actually denotes the percentage of manufacturers planning to expand operations. A reading below 50 represents contraction; November was the fourth straight month below the expansion level.
<snip>
The report shows that manufacturing “is stuck in a mild recession with little prospect of a real near-term revival. This will weigh on job growth and capex over the next few months, to the point where we are not ready to rule out a further [Federal Reserve] easing in January,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note.
