Market Watch: U.S. manufacturing ‘is in recession,’ Fed’s data show
The numbers: The U.S. factory sector declined in the three months ended in June, the second straight quarterly decline, the Federal Reserve said Tuesday.
For the second quarter, production was down 1.2% after a 1.9% decline in the first three months of the year. Manufacturing fell at a 2.2% rate in the second quarter after a 1.9% drop in the first three months of the year.
For June, industrial production was flat, slightly below the 0.1% gain expected by Wall Street economists.
Compared to 12 months earlier, industrial production rose 1.3%.
Capacity in use slipped to 77.9% in June from 78.1 in the prior month.
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Update: US manufacturing sinks into recession amid trade wars (AFP)
WNU Editor: The media is blaming the trade wars for this recession, but the U.S. manufacturing industry has been significantly more impacted by the increase in interest rates than not being able to sell manufactured goods to China (who do not have a habit of buying U.S. manufactured goods anyway). Bottom line .... the US Fed will be dropping interest rates very soon, something that President Trump and a number of business leaders have been demanding for the past 6 months.
6 comments:
As soon as Trump as elected, the Fed raised interest rate and the MOTHERFUCKERS kept raising them.
https://tradingeconomics.com/united-states/interest-rate
On the other for little baby Obama, who coasted through his presidency with TRAINING WHEELS. The BASTARDS of the FED kept rates flat.
If you do not want to talk about the data in the graph, then STFU.
So its, grow our way out of debt or bust? Intrest rates go up and the economy misfires, demand to lower them ensues.. We can't possibly print anymore $, so...
IDK Just a Carpenter. What do you thin should be done?
Not a new concept, it is called fiscal responsibility and it needs to be resurrected/resuscitated at the highest levels of government. Work (not make work) programs are needed to get productive jobs going, and big time.
Repairs to infrastructure roads, bridges, dams etc are badly needed. Additional infrastructure needs to be created for flood control, always a problem, and for building a line of defense against rising oceans. The Dutch, those people who held back the ocean, offered their assistance regarding New Orleans but were told to get lost. New Orleans will likely be the first to go, and relatively soon.
That is a start but requires money so stop giving it away as was done quite recently with tax breaks to people and companies that really didn't need it.
Improve healthcare and education for the future. Money again. Stop throwing it away and use it for fiscally sound ventures.
The solution is there but don't expect anyone in government to take charge and do something for the people because they learned quickly on being elected that the people they represent are the wealthy. Overcoming that little problem would be a really good start.
Well said Bob Huntley!
I've been hearing about infrastructure since the 1970s in Readers Digest.
Roads are still here.
Gas taxes will be raised. Roads will be fixed again. Taxes will be diverted. Roads will get shitty again. And taxes will be raised even higher, since the taxes form the previous tax hike have been diverted to buy votes.
Sea level rise? It has been rising, since the last Ice Age. You going to stop that Bob?
The Goths use to farming the Ukraine. They did not have a good enough military. The Huns came. Now the Goths are no longer in Ukraine.
The only reason Canada can have the mix of social to defense it does because it has 1 neighboring country that is friendly and the other countries are so far away. Otherwise, you would either have a backbone or pads.
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