General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsManufacturing tanking - Activity hits a 10 year low
you know, back when the US was still recovering from the Great Bush Recession. Are we tired of all this winning yet?
Link to tweet
?s=19
text of tweet:
ISM: Manufacturing activity plummeted in September to its weakest reading in 10 years. The sector continues to be challenged by global headwinds and trade uncertainties. The composite index dropped from 49.1 to 47.8, contracting for the 2nd straight month, lowest since June 2009.
hedda_foil
(16,375 posts)Even more ominously, it's gone down NINE POINTS just in this most recent quarter.
NewJeffCT
(56,828 posts)The last 3 years under Obama, it was a little under $500 billion/year.
Under Trump, it's going to be a little over $600 billion/year for his first 3 years.
Johnny2X2X
(19,066 posts)I also just posted a thread on this.
Trade War causing manufacturers to stop expansion.
What Trump is miscalculating is the agility of manufacturing to pick right back up where they left off once he cuts his horrible deal with China. these companies plan years in the future, and these numbers indicate many of them are forgoing expansion and instead will wait it out until an adult is in charge.
NewJeffCT
(56,828 posts)too many big corporations rely on both buying and selling products internationally.
Wounded Bear
(58,670 posts)Looks like manufacturing is feeling what the farmers are. If they do finally figure this out, what happens then? We've trashed years and years of progress. Recovery won't happen in a couple of weeks.
Trump Slump, here we come.
Bernardo de La Paz
(49,007 posts)DetlefK
(16,423 posts)For years, economists have expected a slight recession in the first half of the 2020s decade. Trump took a bad situation and made it worse and now the recession comes earlier.
NewJeffCT
(56,828 posts)It some areas, it definitely seems like it's a recession