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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"We have now tariffed our way into a manufacturing recession in the U.S. and globally,"
https://www.cnbc.com/2019/10/01/us-manufacturing-economy-contracts-to-worst-level-in-a-decade.htmlA gauge of U.S. manufacturing showed the lowest reading in more than 10 years in September as exports dived amid the escalated trade war.
The U.S. manufacturing Purchasing Managers Index from the Institute for Supply Management came in at 47.8% in September, the lowest since June 2009, marking the second consecutive month of contraction. Any figure below 50% signals a contraction.
The new export orders index was only 41%, the lowest level since March 2009, down from the August reading of 43.3%, ISM data showed.
We have now tariffed our way into a manufacturing recession in the U.S. and globally, said Peter Boockvar, chief investment officer at Bleakley Advisory Group.
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coti
(4,612 posts)Mike 03
(16,616 posts)Not sure what it's reacting to, but it's currently down 180 points.
Backseat Driver
(4,393 posts)ooky
(8,924 posts)Always does.
Traders are loving them some 45 grifting ... Just keep plowing into it.
Hard to believe it is sustainable.
Backseat Driver
(4,393 posts)Sustainable? Where on a scorched "Earth" can they run with their loot? Tick-tock - it's October...SURPRISE!
Backseat Driver
(4,393 posts)Remember what comes before this phrase? I'm thinking we (America) need to make a few changes.
still_one
(92,219 posts)Newest Reality
(12,712 posts)While there are a host of critiques we can make about Trump, when you watch the policies, (all of them) and people he has appointed, he is turning out to be the most destructive individual, all total, that this country has ever had in office.
It looks like the tariffs as "deal making" or under the implication of "negotiations" have not only stayed in place, they have done nothing of the sort. When we look at the results, it may see a Trojan Horse here. The intent may have been other than proposed, as most shyster salesmen would agree.
Getting rid of him is one thing, but the trail of carnage he leaves will be with us for a while. We actually have a Recession Incarnate.
Laura PourMeADrink
(42,770 posts)about it when you're building buildings. Probably felt by thousands, except him. Now same methods and affecting millions.
Wellstone ruled
(34,661 posts)recessionary event started with the GOP Tax Cuts. And there is a old axiom that says,"sick old men make terrible laws",think Wilbur Ross and Tariff's. Then you throw in Kudlow who got his lunch handed to him back in the Bush/Cheney debacle.
The biggee,functioning digits guy Trump.
Laura PourMeADrink
(42,770 posts)A round of tariffs Dec 1 ???