U.S. manufacturing levels fell to a three-year low in June, evidencing that economy may well be heading back towards another recession.
The Institute for Supply Management [ISM], a trade group of purchasing managers, reported today that its index of manufacturing activity declined from 53.5 in May to 49.7 in June, indicating that U.S. manufacturing activity is contracting.
Moreover, the index measure for June is the lowest on record since July 2009, one month after the consensus date of June 2009 as the official end of the recent recession.
And more bad news: not only did production fall to a three-year low, but the ISM index for new orders for manufactured goods plummeted from 60.1 in May to 47.8 in June, and its index for U.S.…
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mudmanc4
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Posted 03 July 2012 - 05:19 AM
But But but....... I thought our dictator in chief said we were doing fine ? Well , hmph..... I suppose I should listen to him , so I know what my limits are. So if my income goes down , that's " fine " , and if I cannot buy something because my income has gone down , that's " fine " . Hmm , ok , Think I'm starting to get the picture . Just listen to someone else to tell me how I'm doing yes ok I see.
So how's everybody doing in that little head of yours ? ™
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