Durable goods orders off over 7% in July.
Look for people who make durable goods to start laying more people off.
More time for them to enjoy all the hope and change.
4 thoughts on “This Is Your Obama Recovery”
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You mean amidst great uncertainty about the tax and regulatory regime, companies and people aren’t making long term investments?
Shocker, that.
Richmond Fed: “Manufacturing Sector Strengthened, Hiring Remained Modest” in August
“The composite index of manufacturing activity rebounded in August, climbing twenty-five points above the July reading to 14. The components of that index all rose this month, with the index for shipments jumping to 17 from the previous reading of −15 and the index for new orders moving to 16 from −15. …
The index for the number of employees moved up to 6 in August following a flat reading a month ago. The indicator for the average manufacturing workweek also gained, picking up six points to post a reading of 8. In addition, average wage growth intensified, pushing the index to 13 from July’s reading of 8.
Manufacturers were decidedly upbeat about business prospects for the next six months. The index for expected shipments rose to 36 from July’s reading of 24, and the indicator for the volume of new orders added nine points to last month’s index to finish the month at a reading of 33. …
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Manufacturers planned to increase hiring in the six months ahead; the marker for the number of employees picked up four points to settle at 9, while the index for the average workweek moved up to 10 from last month’s reading of 8. Employers also anticipated robust wage growth, pushing that index to 28 in August from 21.”
All of the regional surveys showed expansion in August, and overall at about the same pace as in July.
https://www.richmondfed.org/research/regional_economy/surveys_of_business_conditions/manufacturing/2013/mfg_08_27_13.cfm
Emery, you do realize that manufacturing can be doing quite well now, and at the same time orders received by the same factories can be plunging, right? That plunging orders do mean that people are going to lose jobs in the next few months, right?
Please?
The progress that was made in the last two years is very impressive, and if the U.S. continues and doesn’t exaggerate by trying to get back to a balanced budget or 2 percent deficit too quickly, this growth will increase. It’s about 2 percent, a little less now and can go up to 2½, get back to what is regarded as normal, which is around 3 percent.