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Manufacturing slows to lowest level since 1948, the ISM Survey showed (Thanks Free Trade)
axcessnews. ^ | 01/02/09 | Armando Duke

Posted on 01/02/2009 1:39:46 PM PST by shielagolden

Manufacturing slows to lowest level since 1948, the ISM Survey showed

By

(AXcess News) Houston - The Institute of Supply Management (ISM) December Survey revealed that the manufacturing sector continued to show no sign of growth for the fifth consecutive month while the overall U.S. economy shrank for the third month in a row.

ISM chairman of the Committee Survey Norbert J. Ore said manufacturers across the entire spectrum of companies saw a "significant decline" in activity during the month of December.

"The decline covers the full breadth of manufacturing industries, as none of the industries in the sector report growth at this time," said Ore.

The ISM noted that the Performance by Industry index (PMI) shrank 3.8% in December over the prior month to 32.4 from 36.2 in November.

New manufacturing orders shrank 5.2% in December with the ISM Survey's index of New Orders at 22.7 compared to 27.9 the previous month.

The ISM said production fell 6% in December to an Index reading of 25.5 from 31.5 the prior month.

The Survey indicated that employment was also down. The Employment Index in December was 29.9 compared to 34.2 the prior month, a decline of 4.3%.

Manufacturers inventory levels shrank 0.3% to 38.8 in December compared to 39.1 the prior month, though customer inventories rose 2% to an index reading of 57 in December compared to a reading of 55 the prior month, indicating that goods were piling up and that new orders in January would likely continue to decline.

Overall, the ISM indicated that the U.S. economy was continuing to slow. The ISM said that New Orders shrank for the 13th consecutive month to their lowest level on record since January 1948. Order backlogs have fallen to the lowest level since ISM began tracking the Backlog of Orders Index in January 1993.

"Manufacturers are reducing inventories and shutting down capacity to offset the slower rate of activity," Ore indicated.


TOPICS: Business/Economy
KEYWORDS: cafta; entitlementsociety; manufacturing; nafta; nationofwhiners; trade; wewantbiggovernment; wto
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1 posted on 01/02/2009 1:39:47 PM PST by shielagolden
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To: shielagolden

watch this one
http://www.youtube.com/watch?v=HodqhJS8jxE


2 posted on 01/02/2009 1:40:49 PM PST by shielagolden
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To: shielagolden; Toddsterpatriot

Like toddster always tells me— “We are a mighty importing superpower”


3 posted on 01/02/2009 1:42:09 PM PST by dennisw (On the 31st floor a gold plated door won't keep out the Lord's burning rage ---FBB)
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To: shielagolden

How is free trade really free when there are artifical limits imposed by governments and magic men around the world?

An economy is not a machine, it’s a living, breathing thing. Sometimes, it has to fight the cancer from within before it can continue to grow.


4 posted on 01/02/2009 1:42:37 PM PST by fightinbluhen51 ("...If it moves, tax it, if it moves faster, regulate it, if it stops, subsidies it.")
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To: dennisw

Deficits DO mater.


5 posted on 01/02/2009 1:43:04 PM PST by fightinbluhen51 ("...If it moves, tax it, if it moves faster, regulate it, if it stops, subsidies it.")
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To: fightinbluhen51

Free Trade has take jobs away from U.S


6 posted on 01/02/2009 1:44:40 PM PST by shielagolden
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To: shielagolden
(Thanks free trade)

hiya, welcome. Since you're using parenthases already, I gather this is an alias.

Anyway...manufacturing is tanking because deep recession and years of overcapacity.

7 posted on 01/02/2009 1:46:01 PM PST by the invisib1e hand (revolution is in the air.)
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To: fightinbluhen51
An economy is not a machine, it’s a living, breathing thing. Sometimes, it has to fight the cancer from within before it can continue to grow.

Astute observation.

8 posted on 01/02/2009 1:46:42 PM PST by the invisib1e hand (revolution is in the air.)
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To: fightinbluhen51

Manufacturing , its all overyseas


9 posted on 01/02/2009 1:46:50 PM PST by shielagolden
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To: shielagolden
Manufacturing slows to lowest level since 1948

I'm confused. US GDP is 6 times what it was in 1948 (in real terms- It is >50X what it was in 1948 in nominal terms.)

How is manufacturing slower now than then?

10 posted on 01/02/2009 1:47:08 PM PST by Onelifetogive (Let's get to altering or abolishing!)
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To: the invisib1e hand

BS


11 posted on 01/02/2009 1:47:21 PM PST by shielagolden
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To: Onelifetogive

tell me what we make in this county


12 posted on 01/02/2009 1:48:02 PM PST by shielagolden
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To: shielagolden

The ghost of Willie G?


13 posted on 01/02/2009 1:48:38 PM PST by BGHater (Tyranny is always better organised than freedom)
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To: shielagolden
BS

Awfully fiesty for noobie. Bad manners don't become someone who's been registered for a week or so.

14 posted on 01/02/2009 1:48:50 PM PST by the invisib1e hand (revolution is in the air.)
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To: Onelifetogive

go take a look at post #2


15 posted on 01/02/2009 1:49:43 PM PST by shielagolden
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To: fightinbluhen51
Deficits DO mater.

Easy money matters                     (Blame Greenspan)
Credit default swaps matter          (blame Wall St and bankers)
Derivatives matter                         (blame Wall St and bankers)

Zero regulation of derivatives, naked shorting by super dunce/stooge Chris Cox matters
Total hands off markets attitude from George Bush, an alleged Harvard B School graduate, matters

Libertarians rejoice we had a totally free market in derivatives!

16 posted on 01/02/2009 1:49:50 PM PST by dennisw (On the 31st floor a gold plated door won't keep out the Lord's burning rage ---FBB)
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To: shielagolden
He was right ...

17 posted on 01/02/2009 1:50:18 PM PST by oh8eleven (RVN '67-'68)
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To: shielagolden

Managed trade.


18 posted on 01/02/2009 1:50:27 PM PST by cripplecreek (The poor bastards have us surrounded.)
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To: shielagolden
High corporate taxes, exorbitant union wages and benefits, and crushing government regulations have made it easier to do business elsewhere. Blaming "free trade" while ignoring the elephant in the room will get you nowhere. The criminal Democrats forced their mortgage banker buddies make loans to people who had no means of repaying the loans. That trashed the mortgage and securities market.

China doesn't have free trade. They are in the toilet too. It seems when people stop buying, the businesses that sell them products tend to fold. Oil prices crashed...no demand.

Your simple minded rant against free trade doesn't wash.

19 posted on 01/02/2009 1:51:28 PM PST by Myrddin
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To: the invisib1e hand

Be careful with your muck raking. Sheila is not a one note Johnny. Her posts are diversified


20 posted on 01/02/2009 1:53:39 PM PST by dennisw (On the 31st floor a gold plated door won't keep out the Lord's burning rage ---FBB)
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To: shielagolden

Free Trade has allowed Americans to grow multiple times richer than they were in (e.g.) 1950.

Protectionism is toxic. A protected industry is just a welfare project.


21 posted on 01/02/2009 1:54:52 PM PST by agere_contra (So ... where's the birth certificate?)
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To: oh8eleven

Of course Perot was right about NAFTA and free trade and that’s why I voted for him warts and all in 1992


22 posted on 01/02/2009 1:55:05 PM PST by dennisw (On the 31st floor a gold plated door won't keep out the Lord's burning rage ---FBB)
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To: dennisw
Be careful with your muck raking. Sheila is not a one note Johnny. Her posts are diversified

She's 8 days old. You should be looking out for her.

Oh, wait, you are.

23 posted on 01/02/2009 1:55:36 PM PST by the invisib1e hand (revolution is in the air.)
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To: Myrddin

Well said.


24 posted on 01/02/2009 1:55:44 PM PST by RKV (He who has the guns makes the rules)
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To: fightinbluhen51

The variant of your question that zooms in on the matter is this:

How is “free trade” really free when governments can (and do) play games with the value of their currency?

eg, China’s peg of the Yuan to the dollar. After years of absurd import/export imbalances to China, we had jawbones the Chinese to relaxing their peg against the dollar to allow the Yuan to increase in value.

In the last month, as soon as it became apparent to the Chinese that this “decoupling” theory was nonsense, and that their economy depended (critically) upon the US consumer buy, buy, buying their crap... they reversed all the gains that the US dollar had made against the Yuan and announced their intent to devalue it again, which makes their exports to the US artificially cheap and the competition by US manufacturing against ChiCom manufacturing very difficult.

This is not “free trade.” It might be in the fevered minds of people like Alan Greenspan and his idiot cohorts in world finance, but it is not free trade in the sense that the US manufacturing sector has a fair and free playing field against ChiCom manufacturing. The ChiComs are stacking the deck for their entire economy.

In reality, the ONLY thing that made the ChiComs raise the value of the Yuan vs. the dollar was the price of oil in dollars. Now that oil is cheap again, we’ll be barking up a bamboo stalk trying to get the Yuan strong again.


25 posted on 01/02/2009 1:56:20 PM PST by NVDave
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To: shielagolden

The inevitable result of free trade and capitalism. You can’t blame the capitalists for being capitalist — profit trumps patriotism every time.


26 posted on 01/02/2009 1:57:46 PM PST by B-Chan (Catholic. Monarchist. Texan. Any questions?)
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To: shielagolden

We are free traders in a Mercantilist world. Add to this the fiction our elites have swallowed that the FIRE economy could support us all, and you see what you get.
Even strategic industries are pretty much nonexistent.
God help us if we need to fight another mass war.


27 posted on 01/02/2009 1:58:39 PM PST by steve8714
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To: fightinbluhen51
Deficits DO mater.


28 posted on 01/02/2009 2:02:17 PM PST by Onelifetogive (Let's get to altering or abolishing!)
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To: shielagolden

Government tampering with free trade causes depressions.


29 posted on 01/02/2009 2:03:46 PM PST by DManA
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To: the invisib1e hand

He’s right. B.S. Free trade hasn’t killed the economy. Fifty year of bad Federal policy and high taxes have killed the economy.


30 posted on 01/02/2009 2:05:22 PM PST by DManA
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To: shielagolden
I'm shocked. We actually still have manufacturing in this country? I thought there were environmental laws and labor regulations that prevented any manufacturing in the United States.

</sarcasm>

31 posted on 01/02/2009 2:06:42 PM PST by cc2k
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To: shielagolden
Manufacturing , its all overyseas

I wonder then how the US is the largest manufacturer on the planet. Double that of China. Along with being the largest exporter on the planet.

32 posted on 01/02/2009 2:08:07 PM PST by Phantom Lord (Fall on to your knees for the Phantom Lord)
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To: oh8eleven

Ross Perot, Mr. Anti NAFTA, who then proceeded to move the world headquarters of Perot Systems too.... MEXICO!


33 posted on 01/02/2009 2:09:46 PM PST by Phantom Lord (Fall on to your knees for the Phantom Lord)
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To: dennisw
Happy New Year!

Still lying I see.

34 posted on 01/02/2009 2:19:58 PM PST by Toddsterpatriot (This is morning, that's when I spend the most time, thinking 'bout what I've given up...)
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To: shielagolden
The headline is misleading. New orders fell to their lowest level since 1948. What does that mean? Is it an index or is it actual orders. How are the orders added up? By value?

Why the snide remark “Thanks free trade”? Given that free trade has not even been tried how do you make such a remark?

It would be nice to have free trade. What is the alternative? Would you have the government forcing us to buy products from each other? Please name the industries that have been successful when the government decrees that we have no choice but to buy their product? Education? Steel? Cars? Sugar?.

Why is manufacturing always the favorite child? Using the same anti free trade logic lets restrict ourselves to only domestic energy sources. Let's restrict ourselves to only domestic investment (no foreign capital).

You will really enjoy an economy ran by union bosses and political apparatchiks.

35 posted on 01/02/2009 2:20:05 PM PST by FreedomNotSafety
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To: Phantom Lord
who then proceeded to move the world headquarters of Perot Systems too.... MEXICO!
According to his website, either your wrong or he moved back ...

(Corporate Headquarters)
Perot Systems Corporation
2300 West Plano Parkway
Plano, TX 75075

36 posted on 01/02/2009 2:21:49 PM PST by oh8eleven (RVN '67-'68)
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To: agere_contra

Was Ronald Reagan wrong to protect Harley during the 80’s?


37 posted on 01/02/2009 2:22:48 PM PST by DevNet
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To: oh8eleven

Perotcharts

http://perotcharts.com/category/challenges/national-debt/


38 posted on 01/02/2009 2:23:55 PM PST by combat_boots ("In a time of universal deceit, telling the truth is a revolutionary act."Aldous Huxley)
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To: Onelifetogive

“I’m confused. US GDP is 6 times what it was in 1948 (in real terms- It is >50X what it was in 1948 in nominal terms.)”

These arent recession numbers, not even depression numbers. We’re watching a full scale worldwide economic collapse.


39 posted on 01/02/2009 2:24:16 PM PST by skipper18
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To: Phantom Lord

If you remove food from the numbers where are we in the rankings?


40 posted on 01/02/2009 2:24:19 PM PST by DevNet
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To: shielagolden

The only thing we manufacture anymore is Liberals. In our schools.


41 posted on 01/02/2009 2:24:41 PM PST by screaminsunshine (.)
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To: Toddsterpatriot

Happy New Year
2009.... a new year to see your theories flop harder. Don’t bet on them big though or you’ll be off to the almshouse


42 posted on 01/02/2009 2:25:11 PM PST by dennisw (On the 31st floor a gold plated door won't keep out the Lord's burning rage ---FBB)
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To: dennisw

Hey, I expect the Deadheads to start trying to convince us to invest in buggy whips any day now. At the rate this economy and FREE trade is going, it will be a booming industry!

Deadheads.

http://www.freerepublic.com/focus/news/2154544/posts?page=9#9


43 posted on 01/02/2009 2:33:20 PM PST by AuntB (The right to vote in America: Blacks 1870; Women 1920; Native Americans 1925)
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To: DevNet; All

Yes...


44 posted on 01/02/2009 2:36:39 PM PST by KevinDavis (Thomas Jefferson: A little rebellion now and then is a good thing)
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To: agere_contra

“Protectionism is toxic.”A protected industry is just a welfare project.”

What do you think these thousand page ‘trade’ agreements do? They protect certain industries and assure them cheap labor....You’ve just demonstrated they are not FREE TRADE.


45 posted on 01/02/2009 2:38:12 PM PST by AuntB (The right to vote in America: Blacks 1870; Women 1920; Native Americans 1925)
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To: shielagolden
No, it's not “thank free trade”.

It's THANKS Demomcrats!

You insist on dumbing down kids in school so we slip to 24th and 25th in Math and Science among the industrialized countries in the world. So what do these IDIOTS clamor for? Dumbed down jobs like manufacturing! The problem is the these other countries don't have UNIONS, can't be BAILED OUT because of HIGH COSTS of GREEDY STUPID PEOPLE that work for these companies.

I am SICK AND TIRED of seeing CAPIALISM DESTROYED by idiots that try to blame “free trade” for STUPID AMERICANS that REFUSE to BETTER THEMSELVES from THIRD WORLD COUNTRIES. This is not the 1930’s or the 1950’s. America must MOVE UP in education and KNOWLEDGE. so they can be competitive and have a future. Get out of the PAST. Third world countries are eating your lunch - MOVE ON!

46 posted on 01/02/2009 2:38:21 PM PST by nmh (Intelligent people recognize Intelligent Design (God).)
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To: shielagolden
“Manufacturing , its all overyseas.”

That's RIGHT!

A trained monkey can do those jobs!

That's WHY manufacturing jobs are overseas.

Surely America can do better and HAS TO DO BETTER.

Overseas they have a lower cost of living and aren't as greedy as the uneducated monkeys over here clamoring for monkey jobs.

47 posted on 01/02/2009 2:40:26 PM PST by nmh (Intelligent people recognize Intelligent Design (God).)
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To: steve8714; calcowgirl; hedgetrimmer

“God help us if we need to fight another mass war.”

Yep. There ya go thinking about the future....you must learn to be a good ‘instant gratification’ free traitor...or else!


48 posted on 01/02/2009 2:41:26 PM PST by AuntB (The right to vote in America: Blacks 1870; Women 1920; Native Americans 1925)
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To: shielagolden; dennisw; fightinbluhen51; oh8eleven; The Invisible Hand; cripplecreek; ...
Restoring manufacturing is vital to the future of this country, preferably non-predatory eco-manufacturing such as first-rate recycled steel, etc.

But to be restored, manufacturing has to become an attractive career for bright young and older people to pursue.

And if any restored manufacturing is to be retained we have to restore our traditional (traditionally Conservative and Republican) National Tariff (import tax).

49 posted on 01/02/2009 2:45:40 PM PST by ProCivitas (Pro-Family = Natural Marriage + Fathers' Rights + Pro-Life + Traditional Divorce Standards)
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To: shielagolden
Free Trade has take jobs away from U.S

So has illiteracy.

50 posted on 01/02/2009 2:49:58 PM PST by Minn (Here is a realistic picture of the prophet: ----> ([: {()
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