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US manufacturing shrinks for first time in 3 years?

~ The Rebel ~ 2012/07/03 14:52:24
- U.S. manufacturing shrank in June for the first time in nearly three years, adding to signs that economic growth is weakening.

Production and exports declined, and the number of new orders plunged, according to a monthly report released Monday by the Institute for Supply Management.

The slowdown comes as U.S. employers have scaled back hiring, consumers have turned more cautious, Europe faces a recession and manufacturing has slowed in big countries like China.

Read More: http://www.gopusa.com/news/2012/07/03/us-manufactu...

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  • JanHopkins 2012/07/04 05:07:29
    JanHopkins
    +1
    When people can't afford food, housing and transportation of course manufacturing is going to decline.
  • jdemme 2012/07/03 17:15:21
    jdemme
    +1
    So this is a global issue. That's not good...
  • Dale 2012/07/03 15:38:01
    Dale
    +1
    Now how can this be President Bush's fault? Or the Republicans in Congress, Wall Street, "Big Oil," or any of the other enitities that fingers have been pointed to in past? How about Incumbent, "His" Administration, and "His" Czars, step right up and take some responsibility for some of the mess we are now mired in. That certainly would be refreshing to hear. Why is it that I doubt that I will ever, ever hear about responsibility from this whole Administration.
  • jdemme Dale 2012/07/03 17:15:16
    jdemme
    +1
    This is, as the thread shows, a global issue.

    Also, last time I checked, we hadn't nationalized the manufacturing market.
  • Dale jdemme 2012/07/03 20:47:31
    Dale
    +1
    It is for a fact, a global market. And that in itself begs the question even louder that everyone, everyone should be asking. "Where and what is the responsibility that Incumbent and "His" Administration and Czars have taken?" Nope, it is Bush, Tsunami, earthquake, Bush, Europe, China, Bush, Arab Spring/Muslim Brotherhood, Israel, ATM's, Bush, etc, etc, et al. And as for manufacturing, want to talk about the 35 Big 'B' Billion that we, the taxpayer lost with Government Motors, and the fact we, the Government, gave away Chrysler to Fiat for a mear 700 small 'm' million? And the picking of losers in the "Green" fields, now that is something to discuss, eh? Responsibility? This Administration as a whole has shown none, none-what-so-ever, and if past is any indication of future, none will be shown in said future, period.
  • jdemme Dale 2012/07/03 22:49:51
    jdemme
    Fist of all Czars are just advisors, first put into play by Reagan. They have no real power.

    Second, I never remember people blaming Bush for natural disasters or the Arab Spring. The only things I can think of to "blame Bush" for is the economy and the war in Iraq, which is over. However, when I blame Bush for the economy, it's really blaming Alan Greenspan for it. He's the one who screwed almost everything up, along with Clinton allowing Glass-Steagall to be repealed, The Supreme Court for the Citizens United ruling, and even Obama for not fixing anything. The financial market is my primary concern, and we haven't done anything good to it for over 30 years.

    Third, don't try to smear the Government takeover of General Motors. You and I both know that it saved at least a million jobs. On top of that, GM is now the #1 car company in the world. Would I prefer them to use UAW workers only? Of course, I'm in favor of high pay for workers. But their continued existence is the Obama administration's doing.

    And I didn't realize you had a problem with investing in the future. Renewable energy is how to move forward. China knows this, and that's why they have invested in it. Even if a few of those companies fail, they know that they're investing in the future. The fact that ONE company that the government gave money to failed does not mean that we should stop investing in other green companies. You know this as well as I do.
  • ~ The Rebel ~ 2012/07/03 14:52:54
    ~ The Rebel ~
    +1
    The trade group of purchasing managers said its index of manufacturing activity fell to 49.7. That's down from 53.5 in May. And it's the lowest reading since July 2009, a month after the Great Recession officially ended. Readings below 50 indicate contraction.

    http://www.gopusa.com/news/20...

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