Manufacturing economy weakest in a decade as December ISM index comes in at 47.2

[mahatmakanejeeves]

Source: CNBC

Economy
Manufacturing economy weakest in a decade as December ISM index comes in at 47.2
PUBLISHED FRI, JAN 3 202010:01 AM ESTUPDATED AN HOUR AGO
Fred Imbert
@FOIMBERT
https://twitter.com/foimbert

KEY POINTS
The Institute for Supply Management said Friday its manufacturing index fell in December to 47.2.
That's its lowest level since June 2009, whet it hit 46.3.
"Global trade remains the most significant cross-industry issue," said ISM Chair Timothy R. Fiore.

Manufacturing activity in the U.S. contracted to its lowest level in more than a decade last month even as China and the U.S. showed progress on the trade front.

The Institute for Supply Management said Friday its manufacturing index fell in December to 47.2. That's its lowest level since June 2009, whet it hit 46.3. Economists polled by Reuters expected a reading of 49 for December. Anything below 50 represents sector contraction.

December also marked the fifth straight month of contraction for the U.S. manufacturing sector.

"Global trade remains the most significant cross-industry issue, but there are signs that several industry sectors will improve as a result of the phase-one trade agreement between the U.S. and China," said Timothy R. Fiore, chair of the Institute for Supply Management, in a statement.

China and the U.S. announced last month that they reached a so-called phase one trade deal, which President Donald Trump later said would be signed on Jan. 15.

Still, ISM said new orders in the manufacturing sector dropped 0.4 percentage points in December to 46.8, down from a November reading of 47.2. Employment, order backlogs and inventories also dropped last month while prices rose.

Read more: https://www.cnbc.com/2020/01/03/ism-manufacturing-index-december-2019.html

---

Hat tip, Joe.My.God:

Manufacturing At Lowest Level Since Great Recession
January 3, 2020

https://www.joemygod.com/2020/01/us-manufacturing-at-lowest-level-since-great-recession/

[Farmer-Rick]

1. We are a nation of sales clerks and cashiers

Bye, bye good paying union jobs. Hello low wages and no benefits. Thank America's filthy rich like the Koch bros and Bill Gates.

[bucolic_frolic]

2. Do we make

shoes or clothing here? not much. electronics? not much. appliances? not much. What do we make here? not much.

food. fracking. medicines. auto parts. some.

mostly we just work for wages and sell off irreplaceable natural resources. and we manufacture plastic.

[mahatmakanejeeves]

3. From December:

U.S. economy's huge service sector slows again in November, ISM finds

ECONOMIC REPORT
U.S. economy's huge service sector slows again in November, ISM finds

By Jeffry Bartash
Published: Dec 4, 2019 11:14 am ET

ISM non-manufacturing index dips to 53.9% from 54.7%

The numbers: The huge service side of the U.S. economy slowed again in November, adding to a slew of evidence pointing to weaker growth toward year end.

The Institute for Supply Management's survey of service-oriented companies such as hospitals, retailers and restaurants fell to 53.9% in November from 54.7%.



Numbers over 50% are viewed as positive for the economy, but the index has come down sharply from a 13-year high of 60.8% just a little over a year ago.

Even worse, the ISM's manufacturing gauge stayed below the key 50% cutoff line in November for the fourth straight month.

Read: ISM U.S. manufacturing sector slumps further in November
https://www.marketwatch.com/story/us-manufacturing-sector-weakens-further-in-november---ism-2019-12-02

[paleotn]

7. Mfg is now dragging down service.

Feedback kicking in. One of the last to go are the equity markets. Like fall 2008 with Wile E. Coyote going off a cliff, it takes awhile for the equity churn misters to acknowledge reality. Hate to say it because many will get hurt, but a recession is tailor made for the 2020 elections.

[duforsure]

4. Is Putin using trump

to hurt our economy intentionally for Putin for revenge ? Trumps doing the same things that were done before the Great Depression in the late twenty's happened while claiming the economy is great , like W Bush claimed too before the Great Recession he caused. Trumps Russian debt is being exposed will show he is putins puppet and has to work for him now.

[Farmer-Rick]

8. Shorty Puttin has ordered over $432billion surplus and he just force Russia bank another $42billion

He uses that slush fund to buy off traitors, his mistresses and castles while Russia's economy is still in a recession. He forces this huge surplus onto the poor Russians and their economy continues to barely limp along.

At least the Chinese get a fast moving economy from their authoritarian dictators.

Seems we get a nation of sales clerks and food servers from our authoritarian dicks.

[sinkingfeeling]

5. But IMPOTUS says it's the greatest economy in history.

[Midnight Writer]

6. I'm sure the people he talks to tell him that everyday.