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Right on cue to back-up Joe Biden saying the middle class has been buried the last 4 years and Bill Clinton saying that everyone would be happy if incomes hadn't dropped under Obama.....
New orders for manufactured goods in August, down two of the last three months, decreased $24.9 billion or 5.2 percent to $452.8 billion, the U.S. Census Bureau reported today. This followed a 2.6 percent July increase. Excluding transportation, new orders increased 0.7 percent. Shipments, down two of the last three months, decreased $1.3 billion or 0.3 percent to $476.9 billion. This followed a 1.9 percent July increase. Unfilled orders, down following two consecutive monthly increases, decreased $17.0 billion or 1.7 percent to $978.8 billion. This followed a 0.7 percent July increase. The unfilled orders-to-shipments ratio was 6.27, up from 6.23 in July. Inventories, up two consecutive months, increased $3.7 billion or 0.6 percent to $611.8 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.6 percent July increase. The inventories-to-shipments ratio was 1.28, up from 1.27 in July.
Reuters struggles hard to look for the silver lining (or spin the news):
Quote:
Demand for U.S. factory goods in August fell by the most since January 2009, but the second straight month of gains in orders outside transportation hinted at a less rapid loss of momentum in manufacturing activity.
The Commerce Department said new orders for manufactured goods tumbled 5.2 percent — the biggest drop since the recession — dragged down by a slump in demand for transportation equipment that was telegraphed in last week’s report on orders for long-lasting manufactured goods.
Factory orders had risen 2.8 percent in July and economists had expected them to drop 5.8 percent in August. Excluding transportation, orders rose 0.7 percent in August after rising by the same margin the prior month.
Not that there isn’t a “loss of momentum” in manufacturing, but it’s less rapid than the topline indicates.
That’s a pretty slender reed, especially for the middle class that depends on a healthy manufacturing sector.
So are you Liberals so much in shock that your "smartest man in the room" got the floor mopped with him that you aren't even going to try and spin this bad economic news?
So are you Liberals so much in shock that your "smartest man in the room" got the floor mopped with him that you aren't even going to try and spin this bad economic news?
For the one big group of liberal voters, this economy has been very good ---
Remittances sent by Mexicans living abroad rose 4.81 percent to $13.71 billion in the January-July period, compared to the same period in 2011, the Bank of Mexico said
For other democrat votes -- well Obama is avidly pro-abortion and they're one-party voters and aren't changing that no matter what.
So are you Liberals so much in shock that your "smartest man in the room" got the floor mopped with him that you aren't even going to try and spin this bad economic news?
If what you say is true, then explain why machinery sales are at an all time high. There is a shortage of skilled works and truck drivers. Oil and Gas are looking to hire as many people as want to work. Summer has always been on the slow side, many plants shut down for maintenance. Many people take vacations. I started this business 40 years ago, we have never been busier. ( logistics)
If what you say is true, then explain why machinery sales are at an all time high. There is a shortage of skilled works and truck drivers. Oil and Gas are looking to hire as many people as want to work. Summer has always been on the slow side, many plants shut down for maintenance. Many people take vacations. I started this business 40 years ago, we have never been busier. ( logistics)
Actually the fewer people still in business the better -- for them. (or you) Most likely your competition has gone belly-up -- so while more businesses are boarded up, it can be more work for fewer -- and of course much higher profits for the elite few.
If what you say is true, then explain why machinery sales are at an all time high. There is a shortage of skilled works and truck drivers. Oil and Gas are looking to hire as many people as want to work. Summer has always been on the slow side, many plants shut down for maintenance. Many people take vacations. I started this business 40 years ago, we have never been busier. ( logistics)
I am a truck driver.. Owner Operator.. I haul machinery... THERE IS NO FREIGHT!!!! Your individual business may be doing well, but nationwide it is slow... We are normally rockin during the summer... I damn near went broke this year.. Oil and Gas are hiring only because they are drilling on private land. Federal leases are few and far between. I haul for them.. I am glad your individual business is doing well. Like you I have been in buisness a long time... 36 years and I have never seen it so slow... I have been sitting here for 2 days looking for freight. Usually I would have been booked 2 weeks in advance. At times as far as a month in advance. Now I find my freight from one day to the next and hope I can find something, anything to haul that will turn a profit.... At one time I replaced my equipment every four years. My truck is now 8 years old and it's worn out and I can't afford the cost of a new one...I really am glad you are doing well, but because you are doesn't mean the rest of the country is...
I am a truck driver.. Owner Operator.. I haul machinery... THERE IS NO FREIGHT!!!! Your individual business may be doing well, but nationwide it is slow... We are normally rockin during the summer... I damn near went broke this year.. Oil and Gas are hiring only because they are drilling on private land. Federal leases are few and far between. I haul for them.. I am glad your individual business is doing well. Like you I have been in buisness a long time... 36 years and I have never seen it so slow... I have been sitting here for 2 days looking for freight. Usually I would have been booked 2 weeks in advance. At times as far as a month in advance. Now I find my freight from one day to the next and hope I can find something, anything to haul that will turn a profit.... At one time I replaced my equipment every four years. My truck is now 8 years old and it's worn out and I can't afford the cost of a new one...I really am glad you are doing well, but because you are doesn't mean the rest of the country is...
We don't do a lot of business in Texas, so, the comparison with Chicago and the eastern ports is like night and day.. Like everyone we suffered bad during the Recession, but now , well it just Keeps coming. We are always looking for Carriers to haul freight. The toughest part is all our goods must be tarp .? We serve the machine tool industry .. We just finished the IMTS show in Chicago, it was very busy this time was hard to keep up. Sorry you are in an area that's not moving as it used too.
Another 4 years of Oblablabla and we won't even have a manufacturing sector. Then all those illegals will have to go back to pickin crops or something...
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