The Obama Bust: U.S. manufacturing contracts in June
by Rodan ( 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
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