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Recession now more likely
MarketWatch ^
| 12:44 PM EDT July 2, 2012
| By MarketWatch
Posted on 07/02/2012 9:49:24 AM PDT by Ernest_at_the_Beach
WASHINGTON (MarketWatch) Theres no way to sugarcoat it: The already-sluggish U.S. economy is stalling out, stung by doubts about our economic and fiscal future.
The Institute for Supply Management reported that its manufacturing index dropped to 49.7% in June from 53.5% in May, signaling that the manufacturing sector is contracting for the first time since mid-2009. Read our complete news coverage of manufacturing activity shrinking in June.
Both the ISM headline index and the ISM new orders index plunged below 50% in June.
By itself, the decline in the ISM index below the benchmark 50% level does not mean that the economy is in a recession, but it does make it much more likely. A reading of 49.7% is consistent with slow, but positive growth of about 2.4%, according to the ISM.
The manufacturing sector has been the most robust part of the economy coming out of the recession, but that momentum has now been lost. The U.S. has now caught the fever racing through Europe and China.
(Excerpt) Read more at marketwatch.com ...
TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: enonomy; obamacare; obamarecession
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To: Ernest_at_the_Beach
Recession now more likely......to continue..........
2
posted on
07/02/2012 9:52:14 AM PDT
by
Red Badger
(Think logically. Act normally.................)
To: Ernest_at_the_Beach
Take away government growth and haven’t we been in a recession for about ten years now?
3
posted on
07/02/2012 9:52:25 AM PDT
by
Moonman62
(The US has become a government with a country, rather than a country with a government.)
Comment #4 Removed by Moderator
To: Ernest_at_the_Beach
Uh, looking at the graph, the ISM has contracted before, including last year. Not sure where the writer says that hasn’t happened since 2009 because that’s not true.
5
posted on
07/02/2012 10:00:03 AM PDT
by
rwfromkansas
("Carve your name on hearts, not marble." - C.H. Spurgeon)
To: Ernest_at_the_Beach
- Raise import tariffs on high value Chinese imports to get some manufacturing back.
- Require all defense components to be manufactured in the U.S. and of U.S. made parts to help manufacturing and protect our defensive capability.
- Close the border and deport illegals to reduce the labor supply, and thus reduce unemployment and the drain on government coffers.
- Build nuclear plants as fast as possible and allow drilling to bring down energy prices.
6
posted on
07/02/2012 10:00:33 AM PDT
by
DannyTN
To: Red Badger; Moonman62; F15Eagle; SunkenCiv; blam; Nachum; Marine_Uncle; SierraWasp
7
posted on
07/02/2012 10:01:37 AM PDT
by
Ernest_at_the_Beach
(The Global Warming Hoax was a Criminal Act....where is Al Gore?)
To: DannyTN
I don’t think nukes are competitive at current nat gas prices.
To: rwfromkansas
9
posted on
07/02/2012 10:22:03 AM PDT
by
blam
To: nascarnation
10
posted on
07/02/2012 10:22:03 AM PDT
by
DannyTN
To: F15Eagle
I call it WD II.
WW I was called the Great War before WW II upstaged it. The Great Depression is now WD I.
11
posted on
07/02/2012 10:36:17 AM PDT
by
cuban leaf
(Were doomed! Details at eleven.)
To: F15Eagle
Modern American Currency
One dollar bill: George Washington
Five dollar bill: Abraham Lincoln
Ten dollar bill: Alexander Hamilton
Twenty dollar bill: Andrew Jackson
Fifty dollar bill: Ulysses S. Grant
One hundred dollar bill: Benjamin Franklin
Food Stamps: Barack Obama
12
posted on
07/02/2012 10:41:05 AM PDT
by
Vendome
(Don't take life so seriously, you won't live thnrough it anyway)
To: Ernest_at_the_Beach
To: Ernest_at_the_Beach
We’re in a long-wave contraction, and have been since 2008. I honestly can’t wait for the rest of the pack to wake up and realize this.
14
posted on
07/02/2012 11:25:27 AM PDT
by
TheWriterTX
(Riding the Long-Wave Economic Contraction, Baby!)
To: rwfromkansas
It’s gone down, but it hasn’t breached the 50.0 mark, below which is the indicator of actual contraction.
15
posted on
07/02/2012 11:25:36 AM PDT
by
greene66
To: Ernest_at_the_Beach
To: Ernest_at_the_Beach
Newsflash, The recession never really ended, but morphed into The 0bama Depression!
17
posted on
07/02/2012 11:57:37 AM PDT
by
The Sons of Liberty
("Get that bastard out of MY White House!")
To: Ernest_at_the_Beach
A recession? Finally! Signs of improvement.
To: Ernest_at_the_Beach
Thanks E. Interesting analysis by Market Watch.
"The oil being pumped from the Williston Basin is both economical to recover and easy to refine. The Bakken oil is high-grade light sweet crude that is among the best oil on the continent, far cleaner than oil sands petroleum from Canada."
19
posted on
07/02/2012 12:46:19 PM PDT
by
Marine_Uncle
(Honor must be earned.)
To: Marine_Uncle
Not until a stake has been driven though the heart of Obama Care very few businesses will be hiring. It's that simple.
20
posted on
07/02/2012 1:22:20 PM PDT
by
kempo
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