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