Skip to comments.U.S. factory, jobless claims data signal weakness
Posted on 09/20/2012 7:17:41 AM PDT by SeekAndFind
U.S. manufacturing closed out its weakest quarter in three years this month and the number of Americans filing new claims for jobless benefits held near two-month highs last week, suggesting the economic recovery is failing to gain traction.
Financial information firm Markit said its U.S. flash, or preliminary, manufacturing Purchasing Managers Index stood at 51.5 in September, unchanged from August. A reading above 50 indicates expansion.
The index averaged 51.5 in the third quarter, below the 54.2 registered between April and June, for its worst showing since the third quarter of 2009. At 51.2, the output component was the lowest since September 2009.
With output growing at the slowest pace since the recovery began, the manufacturing sector may have even acted as a slight drag on the economy in the third quarter, Markit chief economist Chris Williamson said.
After growing at a 1.7 per cent annual pace between April and June, the economy likely slipped closer towards stagnation between July and September, he added.
A separate report from the U.S. labour Department showed initial claims for state unemployment aid edged down just 3,000 to a seasonally adjusted 382,000 last week Economists had attributed a spike in claims in the prior week to Tropical Storm Isaac, but the minimal improvement in the latest reading pointed to fundamental weakness.
The four-week moving average for new claims, a better measure of labour market trends, rose 2,000 to 377,750 the highest level since June. It was the fifth consecutive weekly increase in the measure.
(Excerpt) Read more at theglobeandmail.com ...
Maybe that’s what’s driving up Obama’s poll numbers.. more Americans are looking forward to that government check. Yay for them.
0 has driven the US Economy back into recession
I am completely convinced that we are in this mess almost exclusely because of the corrupt MSM.
“I am completely convinced that we are in this mess almost exclusely because of the corrupt MSM”
My thoughts also.
Don’t worry. stagflation is slowly sinking in with people. high unemployment and high gas/food prices - misery index.
And yet King Hussein’s approval rating remains the same or better. WTF? It has to be the MSM. Nothing else can account for the Teflon shield around the Marxist.
I understand that, but with the safety net now converted into a comfy hammock with down pillows and mints, the impact of those economic conditions won't be felt. New America says: "Hey, I can get used to this!"
Ah, don’t forget about ur free cell phone.
“0 has driven the US Economy back into recession”
But it ain’t a recession until they (MSM) say it is.
That’s a problem but I just have a feeling that people don’t like being unemployed paying out the nose for everything. Even if cushioned some by governmental programs, it just has to affect those who are unemployed and their psyche and they used to be thriving just a few short years ago. They know something’s not right and that’s why I think Romney can tap into this anxiety and win with. MSM is the same - they have diminishing effects each election cycle but some effect is still there. But the worm may be turning.
Which will be after the election . . .
If it wasn't for the media's mindless Obama worship he would still be a Community Organizer in Chicago making a living hustling little old black ladies out of their welfare checks.
That’s my thoughts as well. The dependent class woke up and realized they better get on board to keep the gravy train running. Too bad for them the there’s a giant cliff up ahead and the tracks end right at the edge.
"Thats a problem but I just have a feeling that people dont like being unemployed paying out the nose for everything. Even if cushioned some by governmental programs, it just has to affect those who are unemployed and their psyche and they used to be thriving just a few short years ago. They know somethings not right and thats why I think Romney can tap into this anxiety and win with. MSM is the same - they have diminishing effects each election cycle but some effect is still there. But the worm may be turning."
Yep- good points.
I think people are looking for a mature, serious leader who is going to roll up his sleeves and get to work. Romney should just say he may not have the "coolness" factor that Obama has... but at the same time, he's not going to be obsessively studying NCAA hoops brackets when millions of people are out of work; he's not going to be yukking it up at fundraisers the day after a US ambassador was murdered. What Obama is doing isn't working, and Romney just wants to get people back to work so they can be proud again.
It all starts with them. Without widespread access to factual information, socialist fantasies created & glorified by our educational institutions, Hollywood, etc would find no fertile ground in most voters minds.
” suggesting the economic recovery is failing to gain traction”
As far as I can tell, the “recovery” has been failing to gain traction for the last four years.
Yes, the MSM stopped “reporting” and telling some semblance of the truth decades ago.
I have tried to watch the DNCBS evening news recently. In DNCBS land everything is great, the economy has never been better, food prices aren’t rising, more and more people are getting work, etc.
It seems, my FRiend, you have been paying attention.
It’s going to be funny, when hordes of non-military government employees find out that manufacturing on American soil once provided most of their revenues. Now the socialist, commie income recipients are running on debt, soon to be only fumes of debt.
Have fun. Enjoy the best part of the slide at the end. I know that I will.