The Obama Bust: U.S. manufacturing contracts in June
by Goldwaterite ( 1 Comment › )
Filed under Business, Economy, Headlines at July 2nd, 2012 - 8:02 pm
The Obama Bust continues to cause Havoc. For the first time since the supposed end of the recession, The Institute for Supply Management fell under 50. This shows a contraction in Manufacturing and is more evidence of the deterioration of the US economy.
U.S. construction spending rose to its highest level in nearly 2-1/2 years in May as investment in residential and federal government projects surged, a rare dose of good news for the flagging economic recovery.
At the same time, U.S. manufacturing contracted for the first time in two years in June. The Institute for Supply Management reported its index of manufacturing activity fell to 49.7. That’s down from 53.5 in May and the lowest reading since July 2009. Readings below 50 indicate contraction. Analysts were expecting a slight expansion
The Obama Busty continues!
Tags: The Institute for Supply Management
Comments and respectful debate are both welcome and encouraged.
Comments are the sole opinion of the comment writer, just as each thread posted is the sole opinion or post idea of the administrator that posted it or of the readers that have written guest posts for the Blogmocracy.
Obscene, abusive, or annoying remarks may be deleted or moved to spam for admin review, but the fact that particular comments remain on the site in no way constitutes an endorsement of their content by any other commenter or the admins of this Blogmocracy.
We're not easily offended and don't want people to think they have to walk on eggshells around here (like at another place that shall remain nameless) but of course, there is a limit to everything.