KillerMovies - Movies That Matter!

REGISTER HERE TO JOIN IN! - It's easy and it's free!
Home » Community » General Discussion Forum » U.S. manufacturers experience worst month since 2007-2009 Great Recession

Recession time
You do not have permission to vote on this poll.
We're headed towards another recession. 1 50.00%
Recession talk is fake news and a Chinese hoax! Trump 2020!!! 0 0%
I cope by pretending that it doesn't matter and I don't card. 0 0%
F**k you, Robtard! 1 50.00%
Total: 2 votes 100%
  [Edit Poll (moderators only)]

U.S. manufacturers experience worst month since 2007-2009 Great Recession
Started by: Robtard

Forum Jump:
Post New Thread    Post A Reply
  Last Thread   Next Thread
Author
Thread
Robtard
Senor Member

Gender: Unspecified
Location: Captain's Chair, CA

U.S. manufacturers experience worst month since 2007-2009 Great Recession

U.S. manufacturers experience worst month since 2007-2009 Great Recession, ISM finds

The numbers: American manufacturers posted the biggest contraction in September since the end of the 2007-2009 recession, reflecting a slowdown in the U.S. and global economies made worse by a tense trade war with China.

The Institute for Supply Management said its manufacturing index fell to 47.8% last month from 49.1%, marking the lowest level since June 2009. That’s when the Great Recession ended.

(please log in to view the image)

Economists surveyed by MarketWatch had forecast the index to total 50.2%.

The sharp decline in the index raised the specter of recession, wiping out early Wall Street gains and sending stocks lower. Readings over 50% signal business conditions are getting better, below 50% indicates they are getting worse.

President Trump quickly took to Twitter to blast the Federal Reserve again, blaming the central bank for keeping U.S. interest rates too high.

"As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected. Fed Rate too high. They are their own worst enemies, they don’t have a clue. Pathetic!" - Trump via Twitter

Some economists also believe interests rates are too high, though they say the ongoing trade war is the biggest culprit.

What happened: Production, employment and inventories all declined in September. The index for new orders actually rose a tick to 47.3%, but it’s still at the weakest level in a decade.

Another bad sign: Only three of the 18 U.S. manufacturing industries tracked by ISM reported growth, down from nine in the prior month.
-snip



Yet another sign that we're heading towards a recession and Trump's too busy blaming everyone except his crappy leadership and policies. So save your pennies.


__________________


You've Just Been Kirked To The Curb

Last edited by Robtard on Oct 1st, 2019 at 06:19 PM

Old Post Oct 1st, 2019 06:17 PM
Robtard is currently offline Click here to Send Robtard a Private Message Find more posts by Robtard Edit/Delete Message Reply w/Quote Quick Quote
Surtur
Restricted

Gender: Male
Location: Chicago

Account Restricted

Awful. Thanks Obama.


__________________
Chicken Boo, what's the matter with you? You don't act like the other chickens do. You wear a disguise to look like human guys, but you're not a man you're a Chicken Boo.

Old Post Oct 1st, 2019 08:17 PM
Surtur is currently offline Click here to Send Surtur a Private Message Find more posts by Surtur Edit/Delete Message Reply w/Quote Quick Quote
All times are UTC. The time now is 11:34 AM.
  Last Thread   Next Thread

Home » Community » General Discussion Forum » U.S. manufacturers experience worst month since 2007-2009 Great Recession

Email this Page
Subscribe to this Thread
   Post New Thread  Post A Reply

Forum Jump:
Search by user:
 

Forum Rules:
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is OFF
vB code is ON
Smilies are ON
[IMG] code is ON

Text-only version
 

< - KillerMovies.com - Forum Archive - Forum Rules >


© Copyright 2000-2006, KillerMovies.com. All Rights Reserved.
Powered by: vBulletin, copyright ©2000-2006, Jelsoft Enterprises Limited.