Manufacturing in US Shrinks at Fastest Pace in Four Years
How long has obama been in the White House? LOL
Manufacturing (NAPMPMI) in the U.S. unexpectedly shrank in May at the fastest pace in four years, showing slowdowns in business and government spending are holding back the world’s largest economy.
The Institute for Supply Management’s factory index fell to 49, the lowest reading since June 2009, from the prior month’s 50.7, the Tempe, Arizona-based group’s report showed today. Fifty is the dividing line between growth and contraction. The median forecast of 81 economists surveyed by Bloomberg was 51.
Manufacturing saw major growth under Obama... yet was too small a factor to effect job growth in the USA anymore due to offshoring of millions of jobs over the last 3o years.... you can blame both the Repubs and the Dems for that....
As for slowing now..... What the heck did you expect with Europe sitting on major recession and the only real growth areas in the world now being the SE Asia area per Economic Magazine.... and that region is basicly buying Chinese goods..
And what group forced thru insane across the board cuts, a.k.a. the sequester, just as the economy was pulling out of the hole Bush dug? That's right, the Republicans, a party so discredited that it has been reduced to economic sabotage and phony scandals, each one "bigger than Watergate" to try to change it's fortunes.
White House economic adviser Gene Sperling admits that, yes, in fact, the sequestration was obama's plan. Said Sperling on the Meet the Press program on March 3, "We put forth the design of" the sequestration, Sperling finally admits after a long exchange with the program host.
Sperling is the person in the obama administration suspected of making threatening remarks to veteran journalist Bob Woodward of the Washington Post. Sperling is a nice guy, huh? LOL