Author Topic: U.S. Factory Orders Rise More Than Expected, Signaling Manufacturing Recovery  (Read 670 times)

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Offline mystery-ak

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John Carney 4 Aug 2020

New orders for U.S.-made goods moved higher for the second consecutive month in June, suggesting the manufacturing sector is on steadier footing and rebounding after the coronavirus shutdowns.

The Commerce Department said on Tuesday factory orders increased 6.2 percent. Economists had expected a more modest rise of less than 5 percent in June after May’s 7.7 percent gain.

Manufactureing appears to still be expanding in July, showing no signs of the renewed weakness seen in the labor market after infections have arisen across the country in the second half of summer. The Institute Supply Management’s survey of industry executives showed activity rising to a 15-month high on Monday.

New orders for durable goods, big-ticket items meant to last three years or more, rose 7.6 percent in June, up from the initial report of a 7 percent rise. Orders were up 15 percent in May from the lockdown depressed level reported in April.

Orders for motor vehicles and parts rose 27.8 percent in June, following a 16.3 percent rise in May. Compared with last year, motor vehicle orders are down 10 percent year-to-date. Compared with last June, motor vehicles sold slightly more this year than last.

Despite the progress in June and May,  orders from U.S. manufacturers are still 10 percent below where they were year-to-date last year in June.

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https://www.breitbart.com/economy/2020/08/04/u-s-factory-orders-rise-more-than-expected-signaling-manufacturing-recovery/
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Offline catfish1957

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Add a record NASDAQ, and a 27K DJIA to the mix. The MSM is intentonally avoiding  reporting any positive economic news and one especially demonstrating the lessening COVID-19 impacts.  Even CNBC seems to be blowing this off as fluff.
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Offline Applewood

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It's a slow, bumpy ride back to normal.  I noticed the Dow is up again this morning, but right now, according to what I've read, the rise has to do with optimism over a possible stimulus deal.  If so, the lumps in DC had better come up with a deal soon or the market will take a dive again. 

We also still have people out of work.  Other indicators are still not where they should be.  It's getting better, but if people thought the economy would bounce back quickly, they were wrong. 

Offline catfish1957

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It's a slow, bumpy ride back to normal.  I noticed the Dow is up again this morning, but right now, according to what I've read, the rise has to do with optimism over a possible stimulus deal.  If so, the lumps in DC had better come up with a deal soon or the market will take a dive again. 

We also still have people out of work.  Other indicators are still not where they should be.  It's getting better, but if people thought the economy would bounce back quickly, they were wrong.

Part of the sad story of this across the board increase in everything, is that we are seeing the first bastions of an inflationary economy. Printing $3T with no backing will do those kinds of things. 

Still that is a better option than a drop, at least at this point.
« Last Edit: August 05, 2020, 10:29:41 AM by catfish1957 »
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Offline Applewood

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Part of the sad story of this across the board increase in everything, is that we are seeing the first bastions of an inflationary economy. Printing $3T with no backing will do those kinds of things. 

Still that is a better option than a drop, at least at this point.

Yeah.  I know that prices have gone up, particularly on groceries, and the "stimulus" will make that worse.  I'm not happy about throwing $3T or more down the rabbit hole, but if it keeps the market from tanking like it did a few months ago, I guess I can live with it.  Sadly though, I believe a stimulus deal will only work for the short term.  If people don't start going back to work and the other indicators don't  get better,  the markets could take a nosedive again.  I'm not happy with paying extra unemployment because then there is no incentive to return to work.

Online sneakypete

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Quote
U.S. Factory Orders Rise More Than Expected, Signaling Manufacturing Recovery

@mystery-ak

This makes no sense with so many people out of work,and so many factories closing and moving to China for the cheap slave labor.

Then again,I guess some people with extra cash laying around might be thinking they need to spend it now while they can still buy something with it.

I am personally taking both approaches. I am trying to not spend any money I don't have to spend,hoping what I can come up will still buy something after the real estate crash. I want to buy a house and a couple of acres right along the 4 lane,and then after/if the economy come back,sell my current paid-for house. If real estate doesn't come back big,I will probably just rent it out.

Used to love living here,where I could put a duck blind in my back yard,or just blast away with 30 caliber rifles,shotguns,or handguns to my hearts content,and had no neighbors to complain. No real reason why,but I just lost interest in shooting several years ago. The only time I shoot now is if I see a poisonous snake or a sick animal.
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Online sneakypete

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It's a slow, bumpy ride back to normal.  I noticed the Dow is up again this morning, but right now, according to what I've read, the rise has to do with optimism over a possible stimulus deal.  If so, the lumps in DC had better come up with a deal soon or the market will take a dive again. 

We also still have people out of work.  Other indicators are still not where they should be.  It's getting better, but if people thought the economy would bounce back quickly, they were wrong.

@Applewood

The economy isn't going to come back at all unless Trump is elected. Even then it's going to be slow because the Dims will be doing everything in their power to make it collapse because they NEED people on welfare or unemployment in order to come back to power.

Plus,industry doesn't just gear up and start producing overnight. There has to be a market for them to sell in,and without people being back at work there will be no one buying anything not essential.

It's a steep hill to climb unless the nation goes "borrow crazy".

The Democratic Party has declared war on America.

Online sneakypete

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Part of the sad story of this across the board increase in everything, is that we are seeing the first bastions of an inflationary economy. Printing $3T with no backing will do those kinds of things. 

Still that is a better option than a drop, at least at this point.

@catfish1957

I am guessin that 20 years ago it was rare to even hear international bankers throwing around the "trillion word". Now we hear it everyday.

This is NOT a good thing.
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Offline catfish1957

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@catfish1957

I am guessin that 20 years ago it was rare to even hear international bankers throwing around the "trillion word". Now we hear it everyday.

This is NOT a good thing.

According to the Federal Debt Clock we are now at 136.53% of GDP.  Many many years ago, I read many economist say that 125%-150% would trigger armagaddon.  Who knows what the tipping point is.  All I know is we all need to be worried about it.

https://usdebtclock.org
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Offline truth_seeker

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Add a record NASDAQ, and a 27K DJIA to the mix. The MSM is intentonally avoiding  reporting any positive economic news and one especially demonstrating the lessening COVID-19 impacts.  Even CNBC seems to be blowing this off as fluff.

The national real estate market, shows steady to rising prices and stable volumes.

As in many industries, realtors exhibit problem solving to get the job done. I California, the industry and state regulators devised methods to ensure personal safety and sell properties too.

I know people in two other fields that are "piggy backing" from the realtors' solutions.

The bottom line: People want to work, Companies want to serve customers and clients.



 
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Online sneakypete

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The national real estate market, shows steady to rising prices and stable volumes.

 

@truth_seeker

How is that even possible?

I suspect there are many middle-class families one small step away from foreclosure because the mother had to quit her job to stay home with the kids. LOTS of these people seem to NEED two jobs in order to just make the payments on two new 4x4's,the boat,the travel trailer,and the house. Seems like almost everybody I know that is young and working is living well above their means.

That house of cards HAS to collapse if those women can't get back to work soon.
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Offline libertybele

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@truth_seeker

How is that even possible?

I suspect there are many middle-class families one small step away from foreclosure because the mother had to quit her job to stay home with the kids. LOTS of these people seem to NEED two jobs in order to just make the payments on two new 4x4's,the boat,the travel trailer,and the house. Seems like almost everybody I know that is young and working is living well above their means.

That house of cards HAS to collapse if those women can't get back to work soon.

I don't no either. But I have a friend who owns a real-estate company and she says that their business has actually increased since the pandemic hit.  Maybe people moving out of liberal states?   

I couldn't agree with you more though about the multiple wage earners to sustain the lifestyle of the boats, travel trailers, multiple cars, etc., that house of cards will collapse if both can't get back to work.  That's why there's such a push to re-open the schools; they need that babysitter.   **nononono*
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Offline Applewood

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@Applewood

The economy isn't going to come back at all unless Trump is elected. Even then it's going to be slow because the Dims will be doing everything in their power to make it collapse because they NEED people on welfare or unemployment in order to come back to power.

Plus,industry doesn't just gear up and start producing overnight. There has to be a market for them to sell in,and without people being back at work there will be no one buying anything not essential.

It's a steep hill to climb unless the nation goes "borrow crazy".

@sneakypete

I am well aware that electing Biden and giving control of both houses of congress will be a disaster.  I've said this many times -- we will revert back to the dark days of Obama's rule plus more.  The Dims will be killing jobs with this new green deal thing, choking regulations and more.  I just saw a campaign ad showing a burly guy in a hard hat who says he is in the fracking business.  he says if Biden is elected, he and his buddies in the industry will be out of a job.  The Democrats are determined to kill off fracking, coal and any other fossil-fuel-related business.  Thousands will be out of work and the economy will be as dead as a doornail.

Granted, with Republicans in power, industries and the jobs they create will be preserved.  But alas, regarding a lot of other things not necessarily economic, they have been abysmal failures.  And when it comes to debt, they are just like the Democrats.  All this spending is going to catch up to us one day and maybe sooner than we think. 

Sorry -- I definitely won't vote for Biden, but I can't vote for Trump either.

Offline Applewood

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By the way, guys, the Dow is up 373 points today because of...Disney?  LOL
« Last Edit: August 05, 2020, 06:04:33 PM by Applewood »

Offline Fishrrman

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catfish wrote:
"According to the Federal Debt Clock we are now at 136.53% of GDP.  Many many years ago, I read many economist say that 125%-150% would trigger armagaddon.  Who knows what the tipping point is."

There is no "tipping point".
It will just go on...
... until it can't go on any more.

Then... and ONLY then... will it "stop".
And then... and ONLY then... will those in power do anything to "fix" the situation.

But something I can predict with absolute certainty:
The actions they take to "fix things" are going to be draconian, and you're NOT going to like them.

I've posted this reply many times before.
But I never get a response from "the deficit hawks" on it.
I wonder why...?

Offline catfish1957

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catfish wrote:
"According to the Federal Debt Clock we are now at 136.53% of GDP.  Many many years ago, I read many economist say that 125%-150% would trigger armagaddon.  Who knows what the tipping point is."

There is no "tipping point".
It will just go on...
... until it can't go on any more.

Then... and ONLY then... will it "stop".
And then... and ONLY then... will those in power do anything to "fix" the situation.

But something I can predict with absolute certainty:
The actions they take to "fix things" are going to be draconian, and you're NOT going to like them.

I've posted this reply many times before.
But I never get a response from "the deficit hawks" on it.
I wonder why...?

Because there is a tipping point.  It will come in a series of either a crashing market, currency, or bone crushing inflation.  It will be so dystopian that no one person or government will be able to fix it.  Any entity thinking they are powerful or "draconian-wise" enough will find they will be crushed by the angry masses.  Out of the rubble, of who is left will function in a pure barter economy, with food, water, and services the only marketable commodity.  This isn't 1917, 1930, or even 1789.  It will be unprecedented.  Remember we are a society of specialization. Few will know how to farm, build, or fix things.   There will be widespread famine, as marketable skills will be a small amount of the population. 

Thinking any one government or dictator controling that is not going to happen.
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Offline LegalAmerican

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@Applewood

The economy isn't going to come back at all unless Trump is elected. Even then it's going to be slow because the Dims will be doing everything in their power to make it collapse because they NEED people on welfare or unemployment in order to come back to power.

Plus,industry doesn't just gear up and start producing overnight. There has to be a market for them to sell in,and without people being back at work there will be no one buying anything not essential.

It's a steep hill to climb unless the nation goes "borrow crazy".


I just charged FOR A lift chair, $1,000.  $361 for a new garage door opener.  (why, I now need a lift chair, rope broke, landed on my butt, back, head).  Then I wanted a small freezer, BEFORE COVID HIT...so I dallied too long, but now, SEARS has them again and I got a 5 cu. ft. freezer for garage.  I make a lot of homemade soups. My regular freezer is always full. I needed more freezing space. Thanksgiving coming up.  I need space for TURKEY.  Then my homemade Christmas cookies.
Not frozen long, but it keeps them fresh, longer.  That was $279.00.  TAX & DELIVERY CHARGE.  Then since my butt is broken, I used Walmart to buy some feminine products, a bench for shower, a grabbing tool, and some 'hand holders' for tub & shower.  Shower head spray.  This month I made manufacturing thrive!   lol   More people are using internet shopping for items.

Online sneakypete

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@LegalAmerican

Well,I just bought a new digital "health watch" so I can monitor my heartbeat,the oxygen in my blood,and my blood pressure.

Cost 64 bucks delivered,so I don't think it's going to help the economy recover all that much. Especially,since like everything else you buy these days,the damn thing is probably made in China.
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Offline truth_seeker

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It is awful in California.

Elon Musk is a horrible human.

His workers are slaves, from what I read HERE.

OTOH I read or heard the recent launch and return to the space station was accomplished for less money and time, than was earlier estimated by NASA (government agency)

The Tesla electriic vehicles are the industry standard.

He is taking jobs to Texas.

The US conomy could bounce back strongly.




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Offline LegalAmerican

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@LegalAmerican

Well,I just bought a new digital "health watch" so I can monitor my heartbeat,the oxygen in my blood,and my blood pressure.

Cost 64 bucks delivered,so I don't think it's going to help the economy recover all that much. Especially,since like everything else you buy these days,the damn thing is probably made in China.

Hope it helps.  I run at about 86 and they want 90+ for oxygen. I received oxygen the whole time in hospital.  I am a cancer survivor too, so my blood is 'damaged' from CHEMO, RADIATION ? I DON'T KNOW.   What do you think? They say, I have high white cells in my blood. Then I say, I had chemo and no more questions.  Best wishes in your health!   :0001:  :patriot: :patriot: 

Online sneakypete

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Hope it helps.  I run at about 86 and they want 90+ for oxygen. I received oxygen the whole time in hospital.  I am a cancer survivor too, so my blood is 'damaged' from CHEMO, RADIATION ? I DON'T KNOW.   What do you think? They say, I have high white cells in my blood. Then I say, I had chemo and no more questions.  Best wishes in your health!   :0001:  :patriot: :patriot:

@LegalAmerican

I think since all my cancer surgeon wants to say to me is "When the cancer returns we have these little pills we can give you that will help" tells me they are not real optimistic about my long term survival. It also tells me the doc just doesn't want to tell me any more if she can avoid it,and I am a guy that can take a hint.

Why not? The fact is that when it returns it's going to be obvious and since there is nothing I can do about it,why worry about it?
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