U.S. manufacturing reading falls to decade low

[someoneyouknow]

The IHS Markit US Manufacturing PMI dropped to 49.9 in August 2019. This is the lowest level since 2009, as the travails of the Bush recession were being undone. A reading below 50 indicates a contraction in the manufacturing sector. As shown in the accompanying graph, this drop is a continuation of the decline in manufacturing activity since the con artist told the world trade wars are so easy to win.

Over 55% of survey respondents said they expected the most recent U.S. tariffs on Chinese goods to hurt their business, while less than 6% expected a positive impact. More than a third expected trade tensions to persist for one to two years.

New business received by manufacturing companies fell for the second time in the past four months during August. Although only marginal, the latest downturn in order books was the sharpest for exactly 10 years. Latest data also signalled the fastest reduction in export sales since August 2009.
. . .
Meanwhile, manufacturing companies continued to trim their inventory levels in August, which was mainly linked to concerns about the demand outlook. Pre-production inventories fell for the fourth month running, while stocks of finished goods decreased to the greatest extent since June 2014.​

https://tradingeconomics.com/united-states/manufacturing-pmi

https://www.nytimes.com/reuters/2019/08/22/business/22reuters-usa-economy.html

 

[Adre]

Whaaaaat?!? The Stable Genius said he was the only one who could fix manufacturing and bring jobs back bigly.