U.S. manufacturing sector slumps further in November: ISM

[mahatmakanejeeves]

Source: MarketWatch

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U.S. manufacturing sector slumps further in November: ISM

Published: Dec 2, 2019 10:55 a.m. ET

Data fall below expectations in fourth straight month of contraction

By GREG ROBB
SENIOR ECONOMICS REPORTER

The numbers: The Institute for Supply Management said its manufacturing index sank to 48.1% in November from 48.3% in October. Economists surveyed by MarketWatch had forecast the index would register a reading of 49.2%.

This is the fourth straight sub-50 reading. Readings below 50% indicate business conditions are getting worse.



What happened: The key new orders index dipped to 47.2 from 49.1 in October. Orders haven't been below this level since April 2009. Inventories dropped to a 42-month low. Employment dipped to 46.3.

A similar manufacturing survey by IHS Markit, meanwhile, registered 52.6 in November.
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Read more: https://www.marketwatch.com/story/us-manufacturing-sector-weakens-further-in-november---ism-2019-12-02

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https://www.democraticunderground.com/111687064#post1

Business

https://www.washingtonpost.com/business/2019/12/02/dow-sinks-points-after-trump-resurrects-steel-aluminum-tariffs-renewing-global-trade-worries/

Dow sinks 200 points after Trump resurrects steel, aluminum tariffs, renewing global trade worries
President Trump surprised markets by reinstating steel and aluminum tariffs on Brazil and Argentina

By Taylor Telford
Dec. 2, 2019 at 11:40 a.m. EST

U.S. markets got a rocky start to December, with the Dow Jones industrial average down nearly 200 points amid poor manufacturing data and renewed global trade tensions that threaten to fizzle out recent record-breaking runs.

November was a blockbuster month for Wall Street, as strong earnings and trade hopes yielded 10 record-breaking closes for U.S. indexes. The Standard & Poor's 500 is now up 25 percent for the year heading into a period that's typically high-performing for stocks. December could also bring progress on the trade front, as the terms of an agreement by the United States, Mexico and Canada could be finalized, while resolution on the first phase of a trade deal with China continues to flit in and out of reach.

The trade picture darkened Monday after President Trump announced on Twitter that he would reinstate steel and aluminum tariffs on Brazil and Argentina. He accused the two nations of weakening their currencies to gain competitive advantage against the U.S., an oft-repeated rebuke that he's cited in his ongoing push for lower or even negative interest rates from the Federal Reserve.
....

Taylor Telford is a reporter covering national and breaking news. Follow https://twitter.com/taylormtelford

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American manufacturing sector contracts fourth month in a row
https://www.cnn.com/2019/12/02/economy/manufacturing-downturn-trade-dow/index.html

By Anneken Tappe, CNN Business

Updated 12:42 PM ET, Mon December 2, 2019

[Javaman]

1. so much winning. nt

[Turbineguy]

2. Trump will have to lie harder.

And he's happy to do it.

[duforsure]

3. Just more signs

trumps claim the economy is so great is another con job from him, again. You don't give trillions to the wealthy , take health care away from millions, defund almost a trillion from Medicare, Medicaid, and Social Security, start trade wars, destroy environmental standards, without destroying our economy.

[bucolic_frolic]

4. I can feel the economy sagging

First, companies are expanding into small towns with new construction and stores. It's different this time. Always a late-cycle indicator. eBay is comatose, for me anyway. Supermarkets are doing a brisk business, but I do notice that clearance shelves persist, and food liquidators can't move product fast enough. Meanwhile, stores that closed in older shopping centers and mall remain empty. I haven't seen one of those occupied in 2 maybe 3 years. The biggest malls remain challenged. No new stores. Even Kiosks have given up. Somebody's paying cell phone repairmen to sit there all week long. Several of them. Want ads are lagging. Very slow for this time of year, unless you're into tech skills. I'm just seeing consumer caution. People spending very cautiously, perhaps with the next recession in mind and/or the political chaos and uncertainty and how it will impact their lives. Also, I swear that political donations cramp consumer pocketbooks.

[Indykatie]

5. Cummins Engine Announced 2000 Job Cuts for Professional Workers Last Week

This follows an early retirement incentive plan that 400+ professional folks are taking. Hourly/Union workers will be next. They have already cut out some shifts and closed a plant.

[mahatmakanejeeves]

6. I know someone working for Cummins, in Columbus, Indiana. NT

[Wellstone ruled]

7. What I am watching is

your main industry which is R.V.'s. That was the key Industry to collapse in 2008. Noticed zero info coming out of that sector even though most RV Dealers are cleaning out Inventory and not replacing it with new.

[Indykatie]

8. Our Chinese Imports and Exports are Killing Us Thanks to Trump's Tariffs

[Wellstone ruled]

9. When it comes to RV's

the bulk are assembled in Indiana with a smaller amount built in Oregon and Northern California. Many of the interior pieces come form Mexico and China.

What I watch is the Consumer and are they buying sixty thousand Pickups and to pull these RV's. El cheapo Motor Coaches are 75k and up and 120k is the norm for anything with any quality.

With Factory Utilization at 47.5% this morning,yes Wilbur Ross and Navarro's Tariff's are killing us. Plus it is killing the rest of the World.