U.S. Economy: Factory Production Contracts More Than Forecast

[corporatemedia]

Source: Bloomberg

U.S. Economy: Factory Production Contracts More Than Forecast

By Carlos Torres

March 17 (Bloomberg) -- Industrial production in the U.S. dropped more than forecast in February as the economic slump deepened even before the crisis in financial markets intensified.

Production at factories, mines and utilities fell 0.5 percent last month, the first decrease in four months, the Federal Reserve said today. A report from the New York Fed showed its manufacturing index dropped to a record low in March.

<snip>

New York Manufacturing

A measure of manufacturing in New York state fell to the lowest level on record in March as new orders and shipments contracted for a second month, the New York Fed reported. The so-called Empire State general economic index fell to minus 22.2 from minus 11.7 in February, the bank said today. Readings below zero signal contraction and the March level was the lowest since the New York Fed's index began in 2001.

<more>


Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aXty1MohdFQk&refer=home

[aquart]

1. We still have factories?

WTF aren't we bailing THEM out???

[pattmarty]

2. Yes, that's where they train people to work at fast food "industries".

[Kolesar]

8. I heard the Dems were working on a stimulus package of infrastructure improvements

Not quite manufacturing, but it would stimulate surely steel and concrete business.

[Igel]

9. Drove past the port of Houston yesterday on I-610.

I.e., Sunday.

Saw lots of big rigs with manufactured goods on them taking the port exit.

Not as many as I'd like to have seen. But still a fair number. So, yes, we still have factories.

[Phred42]

3. Big Fxxxing Deal

CNN reported last week that 80% of the crap we buy - COMES FROM OVERSEAS.

'more than forecast' based on about a 20% manufacturing base

Sure better than the opposite but still - nothing to get excited about

[corporatemedia]

6. So if the manufacturing sector (20% you say) goes down the shitter..............

on top of all the other sectors of economy in trouble,

no problem???


"Housing construction and sales also are a big sector of the economy, currently about 6 percent of GDP."
http://www.post-gazette.com/pg/07003/750746-28.stm

"Manufacturing's share of the U.S. economy continues its 50-year decline. Last year, manufacturing GDP fell to an all-time low of just 12 percent of the economy, according to a Manufacturers Alliance/MAPI analysis of recent data from the Commerce Department."
http://www.allbusiness.com/manufacturing/computer-electronic-product-manufacturing/1182847-1.html

So the manufacturing sector, which is still about twice the size of housing sector, has no impact on the economy?

Hmmmmm.....

[notadmblnd]

4. did they really thinK the Chinese was going to buy all the stuff

once they put us all out of work?

[burf]

5. Just how much lower `

would the numbers be if you take out the Military Industrial Complex?

[RUMMYisFROSTED]

7. Opposite Day headline.

:eyes: