US manufacturing contracts in June

[alp227]

Source: Financial Times

US manufacturing contracted in June for the first time in nearly three years as new orders tumbled, signalling a loss of momentum in the country’s economic recovery.

The Institute for Supply Management’s purchasing managers’ index –the most important measure of the sector’s health –fell more than expected to 49.7 in June from 53.5 in May, indicating contraction in the manufacturing sector for the first time since July 2009.

Readings above 50 signal expansion. Analysts surveyed by Bloomberg had forecast a level of 52.

Read more: http://liveweb.archive.org/http://www.ft.com/cms/s/0/f3f89214-c44c-11e1-9c1e-00144feabdc0.html

[magic59]

1. Doesn't surprise me one bit

With republicans doing all they can to crash the economy.

[wordpix]

2. do away with high school vocational courses & send jobs overseas & this is what you get

Not surprised.