Manufacturing, Home Sales Show Growth Signs [Is This For Real?]

APReport ^ | September 01, 2009

[Steelfish]

Manufacturing, Home Sales Show Growth Signs

Survey on factory orders adds to evidence that recession is ending

NEW YORK - The U.S. manufacturing sector grew in August for the first time in 19 months, adding to evidence that the recession is ending.

The better-than-expected reading Tuesday by the Institute for Supply Management showed the highest number for its manufacturing index since June 2007. New customer orders jumped to a level not seen since late 2004.

And in another sign of an improving economy, a gauge of future U.S. home sales rose more than expected in July to the highest point in more than two years.

[nascarnation]

casual observation in Central Indiana shows some tract homes going up (Noblesville, Brownsburg, Carmel)

had not seen hardly any in the previous 9 months

totally unscientific data

[HapaxLegamenon]

Probably due to back to school sales and cash for clunkers preempting the rest of the year auto sales?

[pappyone]

So manufacturing and home sales are up. But what about the more important manufactured home sales index, hmmm?

[NaughtiusMaximus]

Christmas retail sales, a critical figure in the consumer driven economy, are going to be a bloodbath which even the best MSM “happy talk” is not going to be able to cover up.

“Not as bad as we expected” is not a signal of recovery. Keep your money close, you’ll need it to pay Democrat taxes in April.

[A CA Guy]

Banks aren't even bothering to remove people not paying their loans they are so backed up.
Then there are home owners who made bad deals who are going out and buying foreclosures before defaulting on the mortgages they have underwater.
Then we are IMO going to have the economy even further going south with higher unemployment and already 20% of Americans are behind on their mortgages.

So, what is the bright spot people are trying to come up with here? I think reality is going to be hard to face when it hits fully.

[what's up]

As the reality sets in that socialized medicine and cap and trade are NOT the realities that everyone thought they would be in the wake of Zero's victory OF COURSE the economy will begin to recover, as investors feel a little safer to begin seeding their dollars into the future once again.

This is why the DOW is up...this is why housing is turning a corner.

[mysterio]

Hamilton county is not a great indicator. There’s a lot of money there.

[Freddd]

Cash for Clunkers...

[jveritas]

Wall Street = Super Limousine Liberals. They worship Obama and his socialism.

[nascarnation]

You are correct, but I saw pretty much a total stoppage in new home building until last couple months.

Also those are the type of “rich” folks directly targeted by the Baraqqi coalition.

[trumandogz]

In my neighborhood, homes have been selling at or above the “Ask” price.

[Wpin]

This doesn’t surprise me about manufacturing stats. They have been going down for so long that there had to be some point where there was expansion. Now, remember the expanded level is still a very low contracted level from where it started it’s decline...

[what's up]

Rise in DOW makes sense. If 1/6 of the economy is NOT going to be taken over by the Fed Gov't, then worries about that particular aspect of Zero can be relieved.

Thus, the latest investments in business. This is all IN SPITE of Zero, not because of him which is what they will try to claim later after recovery.

[jveritas]

This is all IN SPITE of Zero, not because of him which is what they will try to claim later after recovery.

Obama will be credited for the temporary and unstable recovery, the Obama media will trumpet it, the majority of people will believe it, Obama will gain more political capital to impose more socialism that will further destroy the economy.

[Gator113]

DOW just closed at -185.83.

[libbytarian]

I work at a corrugated packaging plant in Southern Indiana and in July and Aug our sales and our inventory were up for the first time since Jan. 09. Given that we had a rather large reduction in our cost for corrugated and a corresponding reduction in prices to our customers that was remarkable. We supply packaging to a wide spectrum of manufacturers and it seems to be up in general.

I hope it holds.

libby

[Neidermeyer]

China had a -7% day yesterday ... turns out a group of (state owned) companies that made big bets in futures about oil and metals have decided that their contracts will not be paid if they aren’t on the winning end. One of their airlines had profits down 97% even with greatly reduced fuel expenses... If China’s contracts mean nothing then the world economy is going to tube. How long before they start selling our bonds?

[hinckley buzzard]

Manufacturing = cash for clunkers stimulating auto and auto parts mfg plus two onth shutdown of auto plants leading to reduction of inventory. Home sales = 8000 dollar tax credit for first time home buyers, plus banks resuming their shoddy ways in pushing mortgages. Neither effect will last as they are both based on limited giveaways.

[what's up]

Well, he will TRY to take credit.

However, with most of the public aware that he tried to steal a huge chunk of the economy and move it to DC I don't think it's going to be that hard to convince them that we are recovering BECAUSE he didn't succeed.

Especially since his movie-star appeal is fast eroding...they are going to be ditching him and looking for a new star.