Posted on 07/01/2005 7:27:38 AM PDT by Toddsterpatriot
Manufacturing Activity Expands at a Faster-Than-Expected Rate in June; New Factory Orders Up
NEW YORK (AP) -- The U.S. manufacturing sector expanded at a faster-than-expected pace in June, as new orders to factories picked up, a private research group reported Friday. Activity at the nation's factories increased for a 25th consecutive month, according to figures from the Institute for Supply Management. The June upturn followed six consecutive months of slowing growth in the sector, the group said.
ISM's manufacturing index registered 53.8 percent in June, up from a reading of 51.4 in May. The new reading was notably higher than the 51.5 figure forecast by analysts.
A reading of 50 or above in the index means the manufacturing sector is expanding. A figure below 50 represents a contraction.
"These are the most positive signs that we have seen in several months, and they indicate that we may be through the 'soft patch' that many observers touted," said Norbert J. Ore, chair of ISM's manufacturing business survey committee.
The reading reflects an increased rate of growth in new orders, and a slowing rise in prices paid by manufacturers for raw materials. At the same time, high energy costs and a strong dollar continue to weigh on the sector, ISM said.
Of the 20 industry sector tracked by the group's survey, 13 reported growth in June, including petroleum, textiles, food, miscellaneous, wood and wood products, furniture, instruments and photographic equipment, industrial and commercial equipment and computers, rubber and plastic products, chemicals, electronic components and equipment, printing and publishing and primary metals.
Which is if our manufacturing base is so solid, why is nearly everything sold here made in other countries?
I am sure I am not the only one to notice this.
If the Earth is round, how come it looks flat?
I can see you are avoiding the question, so there is no need to continue this.
Have a safe 4th.
Why confuse you with facts when your own limited experience is much more accurate? Nearly everything? Wow, that's a nice solid number. 100%....90%...75%? Be a little more exact.
I guess if we don't make anything here anymore, we really didn't export $1.146 trillion in 2004? Oops, sorry if that fact is in conflict with your limited experience. Maybe there is more happening than you can see?
Nearly everything? Wow, that's a nice solid number. 100%....90%...75%?
I'd say your about right with the 75% figure. Yes, I'd say about 75% of products, are not made here. Would you not agree?
What would be your estimate?
What would be your estimate?
I don't like making estimates because my personal experience is limited compared to the entire nation. Let's look at some facts.
In 2004 we purchased durable goods worth $1.0993 trillion and non durable goods worth $2.2085 trillion.
We imported $1.469 trillion in 2004.
Trade with World (seasonally adjusted) : 2004
That included $131.7 billion worth of crude oil.
So, not counting other commodities or other non-manufactured goods we imported, we're down to $1.3373 trillion in imports compared to $3.1761 trillion in durable and nondurable goods consumed. Looks like a maximum of 42.1% of goods are imports. If you subtract other non manufactured imports from the $1.3373 trillion figure, I'm sure the number is less than 42%.
Please, feel free to check my work, my sources and my logic.
Thanks to international trade, I can also buy eggplant and zucchini in the off season (although Mexican eggplant still s-cks!).
I don't like making estimates because my personal experience is limited compared to the entire nation.
Your post implied you were looking for a more specific estimate from me. That's why I responded with 75%.
I personally trust my personal experience, as opposed to government figures and charts.
I stand by my estimate, that approximately 75% of the products I purchase, are not made in this country. And I purchase basically the same products everyone else does in this country.
I don't think you need to be a economist with more degrees than a thermometer to see that the majority of products we purchase, are not produced here.
Well, there you go.
I stand by my estimate, that approximately 75% of the products I purchase, are not made in this country. And I purchase basically the same products everyone else does in this country.
And the other 300,000,000 Americans buy exactly the same things in exactly the same quantities as you? What about cars? 75% of cars bought in the US are imports?
I don't think you need to be a economist with more degrees than a thermometer to see that the majority of products we purchase, are not produced here.
No, but it would be nice to see some facts a little more solid than the purchasing habits of 1 guy. Mistrust the government all you want, but I'll trust their numbers before I'll trust yours.
Quote:What about cars? 75% of cars bought in the US are imports?
Not yet but the Big 2(3 with chrysler) in america are all planning to build plants(or currently have them under construction) in china including Toyota and Honda for export.
GM in February(see. www detroitnews.com) had a meeting with all 385 of their suppliers telling them to move to china because that was where all their future auto plants will be built and they want them close to the supply chain.
Also wit until Chery Motor company and Shanghai motors start exporting to the US in 2007 (50,000 cars planned for the first year)
Because low-end goods such as textiles and plastic toys can be more cheaply made in India or China.
Meanwhile, the American worker is making such high-value goods like automobiles and 747's.
It's a matter of perception- you buy a lot more t-shirts every year than you do Jumbo Jets, so your perception is that most goods are manufactured outside of this country and that our manufacturing base is shrinking.
When it comes to the total number of products he purchases, this may be true. When it comes to the total value of the products he purchases, it is unlikely to be true. It takes a lot of foreign-made t-shirts to equal one new car built in Kentucky.
You are correct. Most protectionists have a problem understanding the difference between quantity and value.
Plastic toys? Not quite
And I didn't refer to just referring to China and India. I said 75 percent of our products we purchase are not produced here. I was asked for a specific estimate, and I offered one. It's a good estimate.
See #119.
And back to my original question, if our manufacturing base is so solid, why is most everything we purchase not manufactured here?
You have yet to offer any proof. Anecdotes don't equal facts.
The total number of products you purchase says nothing about the total value of those products.
I bought 500 foreign toothpicks. Ohmigod, America is falling apart!! :^)
Combined, all of the dozens, if not hundreds, of the foreign-made products I bought last year are probably worth less than half of the one American-made car that I purchased in 2004.
Mere details. The fact that America can't make a decent, affordable toothpick shows we are falling apart. We need a 1000% tariff on all foreign made toothpicks. Show those foreigners we don't mess around!!
You have yet to offer any proof.
Why would anyone need proof for something so obvious? But here's some proof you requested.
Best Buy, Radio Shack, Target, Wal-Mart, Auto Zone, Home Depot, Sears, K-mart, J.C. Penneys, COSTCO. I could go on, but I think most everyone else can see this.
Take care.
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