Posted on 06/01/2011 7:40:26 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) — Growth in the U.S. manufacturing sector receded in May, according to a closely followed index released Wednesday.
The Institute for Supply Management said its manufacturing gauge fell to 53.5% in May from 60.4% in April, marking the third straight decline and the biggest one-month drop since 1984. It’s also the lowest reading in one year.
Economists surveyed by MarketWatch had forecast the index to drop to 57.1%. Three months ago the index peaked at a seven-year high of 61.4%.
(Excerpt) Read more at marketwatch.com ...
Let's cut the BS, the economy is headed for the tank. What's scary is how fast it's falling. We are heading toward rough waters in a speedboat.
Was this “unexpected” by the “experts”? Those of us who are living through this crappy economy are not surprised by these numbers.
Shocked...
I had my bottle and my shot glass, but I didn’t see the word, so no drink.
But yeah, it’s very unexpected. This confirms all the regional data. Add the ADP this morning and the housing yesterday and you have a very ugly picture.
My advice: learn how to live Amish.
QE#3 on the way.
Good advice. Before it's all over, we may not have a choice.
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