Posted on 05/19/2011 9:35:45 AM PDT by Oldeconomybuyer
A measure of manufacturing in the U.S. Mid-Atlantic region grew much more slowly than expected in May, a survey showed on Thursday, falling short of even the most pessimistic predictions of a Reuters poll of economists.
"It was, I think, in a word, pretty ugly," said Tom Porcelli, a U.S. economist for RBC Capital Markets in New York.
The Philadelphia Federal Reserve Bank said its business activity index slumped to 3.9 from 18.5 in April. It was the index's lowest level since October 2010.
(Excerpt) Read more at reuters.com ...
Two words: Double Dip
Three words....Obozo’s double dip
DRINK!
Two words: Exported jobs
What can be expected is that the economy will fall to Depression levels next year if it appears that BO will be re-elected.
The 750,000+ jobs lost in Jan. ‘09, the highest for any month in our history, was caused by businesses dumping employees in anticipation of this Marxist enemy of capitalism being sworn into office. Their reaction to the prospect of his continued plundering of the USA for four more years would be another down-sizing.
If you’ve made money in stocks the past two years, you ought to have an exit strategy in place.
Two words: Double Dip
Proves that there is NO (actual) recovery, whatever Obama and economists want you to believe.
Higher energy and raw materials costs are crimping businesses just like in 2008
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