Posted on 07/02/2012 11:18:09 AM PDT by Free ThinkerNY
(Reuters) - U.S. manufacturing shrank in June for the first time in nearly three years as new orders plummeted, one measure of the sector that showed the starkest sign yet of the extent of the slowdown in the economy.
The Institute for Supply Management said on Monday its index of national factory activity fell to 49.7 from 53.5 the month before, missing expectations of 52.0, according to a Reuters poll of economists, and below even the lowest forecast.
It was the first time since July 2009 that the index has fallen below the 50 mark that separates expansion from contraction. That was shortly after the U.S. economy emerged from recession.
Manufacturing has been one of the drivers of the U.S. economic recovery, which now appears to be losing momentum over fears about the euro zone's debt crisis, a slowdown in China and uncertainty over domestic fiscal policy.
(Excerpt) Read more at reuters.com ...
Top 10 Warning Signs of a Global End Game
Some good news:
But the private sector is doing fine!
If my company is any example, I can attest that this is true. We are at a standstill because we have no orders, and people have stopped paying us for what we have already produced. It’s scary.
The Lord answers prayer in mysterious ways.
We have been praying for 3 1/2 years for Him to rid us of Barack Hussein Obama. Not our call if Great Depression 2.0 is the vehicle he chooses to do it.
The article says this is the first decline in three years, which is a lie. This is the first time the reading has dropped below the ‘50’ line, showing contraction, in three years. The reading below ‘50’ is the first in three years but the readings have declined several times since the date cited in 2009. Another instance of sloppy writing and lack of adult supervision in so-called news reporting.
Did it shrink, or are they simply running out of inventory?
Shrinking like a scared turtle.
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