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Economy
In reply to the discussion: STOCK MARKET WATCH -- Tuesday, 2 July 2013 [View all]xchrom
(108,903 posts)14. Why Celebrate a False U.S. Manufacturing Renaissance?
http://www.bloomberg.com/news/2013-07-01/why-celebrate-a-false-u-s-manufacturing-renaissance-.html
The repeated claims that U.S. manufacturing is enjoying, or is on the verge of, a renaissance have been undermined again. The latest reality checks were provided by official statistics on manufacturing output.
The Commerce Departments first report on domestic industrys full-year 2012 performance showed an impressive increase in U.S. manufacturers output. Yet the figures released June 6 were hardly profound, even by the standards of the previous decade, which no one considered a golden age for U.S. industry.
President Barack Obama and other proponents of a manufacturing renaissance got even more bad news June 14, when the Federal Reserves industrial-production data for May showed that the sectors rebound from the recession had just about stalled.
Manufacturing output remains smaller than when the last recession began in 2007, despite the huge government stimulus since then.
U.S. manufacturings 6.2 percent inflation-adjusted growth in 2012 was much faster than the 2.5 percent growth of the economy as a whole, and considerably faster than manufacturings 2.5 percent real expansion in 2011. Even so, we are nowhere near a renaissance. In 2010, early in the current recovery, the sector recorded real growth of 6.9 percent; it showed an 8.2 percent expansion in 2004, and grew 6.4 percent in 2000.
The repeated claims that U.S. manufacturing is enjoying, or is on the verge of, a renaissance have been undermined again. The latest reality checks were provided by official statistics on manufacturing output.
The Commerce Departments first report on domestic industrys full-year 2012 performance showed an impressive increase in U.S. manufacturers output. Yet the figures released June 6 were hardly profound, even by the standards of the previous decade, which no one considered a golden age for U.S. industry.
President Barack Obama and other proponents of a manufacturing renaissance got even more bad news June 14, when the Federal Reserves industrial-production data for May showed that the sectors rebound from the recession had just about stalled.
Manufacturing output remains smaller than when the last recession began in 2007, despite the huge government stimulus since then.
U.S. manufacturings 6.2 percent inflation-adjusted growth in 2012 was much faster than the 2.5 percent growth of the economy as a whole, and considerably faster than manufacturings 2.5 percent real expansion in 2011. Even so, we are nowhere near a renaissance. In 2010, early in the current recovery, the sector recorded real growth of 6.9 percent; it showed an 8.2 percent expansion in 2004, and grew 6.4 percent in 2000.
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I am reading a history of the civil war. The teabaggers are remarkably similar
Doctor_J
Jul 2013
#29
When is a recovery not a recovery? When it's a "stealth recovery" (aka "bubble")
Demeter
Jul 2013
#20
Well color me shocked that Canada would let someone from DU SMW in or the US would let you out.
kickysnana
Jul 2013
#40