Posted on 09/01/2015 2:06:43 PM PDT by BenLurkin
·In the U.S., a gauge on factory activity from the Institute for Supply Management saw a bigger-than-expected drop in August to 51.1 from 52.7 in July. Wall Street anticipated a shallower drop to 52.6. The reading, though still in expansion territory, was the lowest since May 2013.
The global picture wasnt much better, and is what helped drive the selloff in world markets.
Overnight, data from China showed the nations manufacturing sector slipped to a three-year low and back into contraction territory for the first time in six months, though mostly in-line with expectations, while the services sector also showed weakness.
The data suggest a major theme of either moderate gains or declines across the board, according toIHS U.S. Economist Michael Montogmerys Tuesday research note.
Almost all of the world manufacturing powerhouses are nestled between 47 and 53 with the eurozone the best example of strength and China the poster child for manufacturing struggling, he wrote. U.S. manufacturing is somewhere in the upper third or that range, but no longer the locomotive as it digests bad foreign trade prospects and holding too much inventory in the system.
(Excerpt) Read more at foxbusiness.com ...
We still have factories ?
That was my first thought also!!!
UNEXPECTED
24/7/365
:There is nothing to fear but fear itself”
Okay, I feel pretty fearful about now.
With all this talk of Sept 23rd, will the Dow go down 923?
Why? What is supposed to happen on September 23rd?
Yes, there are many factories owned by Americans, and most of those factories are on foreign soil. It’s called American manufacturing.
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