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.
The only thing we manufacture anymore is Liberals. In our schools.
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
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
Yes...
“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.
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!
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.
“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!
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).
So has illiteracy.
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.
Couldn't agree with you more
Lets flip houses
And lets cook up trillions in derivatives on Wall St
Lets open up more malls
Lets open up more Wal Marts selling Chinese stuff
Lets bring in millions of illegals aliens to work in our restaurants and hotels
We need more brokers to write sub prime mortgages
God how I love those service industries
Agree on the tariffs.
Your rant about our position in the math and science ratings is at polar opposites to your signature.
Which of my smaller government theories do you imagine are flopping?
Don't worry, this year you'll get the bigger government you've been creaming for.
Don’t worry. Obama will fix it by unionizing all those plants that are not currently unionized.
Reagan imposed some very specifically targeted import taxes that not only helped American manufacturers but also brought foreign manufacturers into the country.
Manufacturing slows to lowest level since 1948
Agree on the tariffs.
There was no over capacity until we sent our manufacturing overseas...Free trade is killing this nation.
Yeah, and after we do all you described, we will go broke...which we have.
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