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Author Topic: US manufacturing survey shows worst reading in a decade  (Read 1003 times)

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Offline Applewood

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US manufacturing survey shows worst reading in a decade
« on: October 01, 2019, 05:42:05 pm »
US manufacturing survey shows worst reading in a decade
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A gauge of U.S. manufacturing showed the lowest reading in more than 10 years in September as exports dived amid the escalated trade war.

The U.S. manufacturing Purchasing Managers’ Index from the Institute for Supply Management came in at 47.8% in September, the lowest since June 2009, marking the second consecutive month of contraction. Any figure below 50% signals a contraction.

The new export orders index was only 41%, the lowest level since March 2009, down from the August reading of 43.3%, ISM data showed.

“We have now tariffed our way into a manufacturing recession in the U.S. and globally,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group.

https://www.cnbc.com/2019/10/01/us-manufacturing-economy-contracts-to-worst-level-in-a-decade.html
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Offline OfTheCross

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Re: US manufacturing survey shows worst reading in a decade
« Reply #1 on: October 01, 2019, 06:08:17 pm »
what has changed from 2016 to 2017 when it started going down ?
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Offline Wingnut

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Re: US manufacturing survey shows worst reading in a decade
« Reply #2 on: October 01, 2019, 06:32:05 pm »
Quote from: OfTheCross on October 01, 2019, 06:08:17 pm
what has changed from 2016 to 2017 when it started going down ?

The midterm elections and the house of reps becoming infested with rats.
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Offline OfTheCross

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Re: US manufacturing survey shows worst reading in a decade
« Reply #3 on: October 01, 2019, 06:34:08 pm »
Quote from: The Ghost on October 01, 2019, 06:32:05 pm
The midterm elections and the house of reps becoming infested with rats.

Did anything pass into law that made this happen? I figure the President could just veto that if he came across it
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If a well-regulated militia be the most natural defense of a free country, it ought certainly to be under the regulation and at the disposal of that body which is constituted the guardian of the national security.

Offline Wingnut

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Re: US manufacturing survey shows worst reading in a decade
« Reply #4 on: October 01, 2019, 09:03:38 pm »
Quote from: OfTheCross on October 01, 2019, 06:34:08 pm
Did anything pass into law that made this happen? I figure the President could just veto that if he came across it

Fear is what changed.
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Offline thackney

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Re: US manufacturing survey shows worst reading in a decade
« Reply #5 on: October 01, 2019, 09:05:52 pm »
Quote from: OfTheCross on October 01, 2019, 06:08:17 pm
what has changed from 2016 to 2017 when it started going down ?

It looks to me like it climbed from 2016 to 2018, then started down again.

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Online catfish1957

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Re: US manufacturing survey shows worst reading in a decade
« Reply #6 on: October 01, 2019, 09:11:17 pm »
As much analysis as we want to put into this as far as whether it is political, trade, or a technical correction.

Still isn't good news for DJT.
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Offline Applewood

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Re: US manufacturing survey shows worst reading in a decade
« Reply #7 on: October 01, 2019, 09:27:27 pm »
Trump is blaming the Fed.  And the Dow dropped over 343 points, blaming this survey news.

It's not good, no matter how you slice it. 
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Offline Wingnut

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Re: US manufacturing survey shows worst reading in a decade
« Reply #8 on: October 01, 2019, 09:28:39 pm »
Quote from: Applewood on October 01, 2019, 09:27:27 pm
Trump is blaming the Fed.  And the Dow dropped over 343 points, blaming this survey news.

It's not good, no matter how you slice it.

The market will be back up tomorrow.   

Don't fall into the trap.
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Offline Applewood

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Re: US manufacturing survey shows worst reading in a decade
« Reply #9 on: October 01, 2019, 09:36:06 pm »
Quote from: The Ghost on October 01, 2019, 09:28:39 pm
The market will be back up tomorrow.   

Don't fall into the trap.

Maybe.  But that's not the point.  Point is that Trump's supposedly great economy is showing cracks.  If this allegedly great economy, which was always Trump's big selling point, falls apart, it's going to have a significant impact upon his 2020 chances.  Trump can blame everyone and anyone he wants -- he always does -- but if the toilet flushes, the blame will be laid at his feet. 
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Offline IsailedawayfromFR

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Re: US manufacturing survey shows worst reading in a decade
« Reply #10 on: October 02, 2019, 04:32:05 pm »
Quote from: Applewood on October 01, 2019, 09:36:06 pm
Maybe.  But that's not the point.  Point is that Trump's supposedly great economy is showing cracks.  If this allegedly great economy, which was always Trump's big selling point, falls apart, it's going to have a significant impact upon his 2020 chances.  Trump can blame everyone and anyone he wants -- he always does -- but if the toilet flushes, the blame will be laid at his feet.
Does this sound like 'cracks'?

Listening to this guy, it seems we might as well cashout and move to Belize.

“Purchasing managers are telling stock market investors to get out,” Chris Rupkey, chief financial economist at MUFG Union Bank, said in a note. “Run. Run for your life. Get out while you can. The outlook is darkening and the thunder is growing louder by the day.”
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Offline WhatWouldReaganDo

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Re: US manufacturing survey shows worst reading in a decade
« Reply #11 on: October 02, 2019, 04:43:36 pm »
"Trade wars are good, and easy to win"  :pondering:
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Offline IsailedawayfromFR

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Re: US manufacturing survey shows worst reading in a decade
« Reply #12 on: October 02, 2019, 08:33:49 pm »
Yet just during last month we find an article which says the manufacturing output exceeded expectations.

Yet a month later we should now sell out everything and flee as our lives are at stake.

Note both articles are written by cnbc.

US manufacturing production rebounds strongly in August
https://www.cnbc.com/2019/09/17/us-industrial-production-august-2019.html
« Last Edit: October 02, 2019, 08:34:53 pm by IsailedawayfromFR »
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Offline Free Vulcan

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Re: US manufacturing survey shows worst reading in a decade
« Reply #13 on: October 02, 2019, 08:36:29 pm »
I'm not sure if this is a market top or some long sideways motion, but it's definitely stalled out.
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