Flash PMI index falls under 50 signaling a contraction for the first time since 2013
corona virus was partially to blame but also to blame was companies worry about a wider slowdown…
“With the exception of the government-shutdown of
2013, US business activity contracted for the first
time since the global financial crisis in February.
Weakness was primarily seen in the service sector,
where the first drop in activity for four years was
reported, but manufacturing production also ground
almost to a halt due to a near-stalling of orders.
not a good report at all. if it continues for a couple more months it will pretty much indicate that we are in a recession
https://www.markiteconomics.com/Public/Home/PressRelease/2ea84928c5d74262bbe387ec2b19d337
Auto129
February 21, 2020, 4:15pm
2
We should totally ignore this for political reasons. Nobody should even discuss it.
Best economy in the history of economies!
conan
February 21, 2020, 4:19pm
4
3R’s…
Just yesterday or day before libs were say Russia again…tomorrow it will be racism again.
4 Likes
GDP grew for the full year in 2019 in spite of the trade war and while the CV outbreak is going to affect some sectors later in the year we’re still looking good for growth in 2020.
conan
February 21, 2020, 4:30pm
6
And for OP.
March 2019
June 2019
he brags about how the economy is doing about as good if not better than ever before.
but…
gdp growth estimates for q2 have fallen to 1.5% or lower
may job growth only 75k,well under the 180k forecast.
march and april numbers also sharply reduced.
2 of the last 4 months have seen growth under 100k
treasury yields have plunged as the fear of recession is growing.
Aug 2019
Again in Aug 2019
when trump enacted his tax cut for the rich he said it wouldn’t blow up the deficit becausewe would have 3% growth well into the future,despite pretty much every competent economist saying that was a fantasy
he predicted this growth would occur with 10 year interest rates of 3.2%
well we dont have 3% growth so the deficit is blowing up. now he is saying its jay powell and the feds fault for having interest rates to high. This is despite his administrations forecast that 10 year interest rates …
Sept 2019
manufacturing jobs,especially in swing states have begun falling
so far this year 22 states have shown manufacturing job losses including wisconsin,north carolina and pennsylvania
one company cummins engines says tariffs will cost if 150 this year,far outdistancing the 70m it saved in corporate taxes
Again Sept 2019
the institute for supply managments survey which shows the health of the manufacturing sector fell to 49.1 in august. Any reading below 50 is contraction. the reading for export orders fell to its lowest since april of 2009.
so much for trumps claim we have the best economy on record.
stocks have plunged as a result with the dow down 400
Have a happy day Moonshine,
8 Likes
At least he’s consistent.
4 Likes
Auto129
February 21, 2020, 4:38pm
8
6 discussions based on cited numbers.
Axxowiz
February 21, 2020, 4:44pm
9
Sanders economic plan will save us, good economic numbers will be here again. It’s looking like he should have the nomination wrapped up more or less by Super Tuesday and I am sure the markets will rejoice with the news.
JayJay
February 21, 2020, 4:52pm
10
moonshine:
Flash PMI index falls under 50 signaling a contraction for the first time since 2013
corona virus was partially to blame but also to blame was companies worry about a wider slowdown…
“With the exception of the government-shutdown of
2013, US business activity contracted for the first
time since the global financial crisis in February.
Weakness was primarily seen in the service sector,
where the first drop in activity for four years was
reported, but manufacturing production also ground
almost to a halt due to a near-stalling of orders.
not a good report at all. if it continues for a couple more months it will pretty much indicate that we are in a recession
https://www.markiteconomics.com/Public/Home/PressRelease/2ea84928c5d74262bbe387ec2b19d337
Shouldn’t they?
Because the way you guys talk, re-election is already in the bag, especially if Commie Bernie gets the nod.
JayJay
February 21, 2020, 4:56pm
11
Your indicators for this?
Camp
February 21, 2020, 4:58pm
12
I think I see a pattern here.
Good job Conan!!
4 Likes
Guvnah
February 21, 2020, 5:20pm
13
Eventually one of the sky-is-falling predictions will be right.
1 Like
Axxowiz
February 21, 2020, 5:26pm
14
The left is ignoring the monstrosity that is winning the Democratic nomination as well as how the economy is liable to react to him winning.
conan
February 21, 2020, 5:29pm
15
Yes. Just has to keep screaming it.
1 Like
Cynic
February 21, 2020, 5:32pm
16
So there have been indicators we are approaching a recession for a year?
mot1man
February 21, 2020, 5:32pm
17
Discussions? I think you misspelled “cheerleading”.
He’s committed to a long term hope of a recession before the election it seems.
Kind of like those people who predict when the world is going to end eh?
Historically full employment doesn’t last too long