US Manufacturing Slumps to Lowest Level in 3 Years

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ptif219

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Once again we see how Biden lies


https://www.theepochtimes.com/us-ma...utm_source=partner&utm_campaign=BonginoReport


U.S. manufacturing activity contracted in March for the fourth straight month, dropping to its lowest level in nearly three years amid a sharp pullback in demand.

The Institute for Supply Management (ISM) said in an April 3 report that its Manufacturing Purchasing Managers’ Index (PMI) fell to 46.3 last month compared to 47.7 percent in February. Readings below 50 represent contraction.


Last month’s Manufacturing PMI reading was the lowest since May 2020, when the gauge registered 43.5 percent.

“Regarding the overall economy, this figure indicates a fourth month of contraction after a 30-month period of expansion,” Timothy Fiore, chair of the ISM’s Manufacturing Business Survey Committee, said in a statement.

Demand for manufactured goods has declined, the report shows, with new orders and order backlogs contracting at a faster pace in March than in February.

“Sales are slowing at an increasing rate, which is allowing us to burn through back orders at a faster-than-expected pace,” an executive in the transportation equipment sector was cited in the survey as saying.

New orders fell by 2.7 percentage points, to 44.3 percent in March from 47 percent in February.

“Business is still slow overall. Customers have not yet picked up orders at pre-pandemic levels,” said an executive from the apparel sector, according to the survey.
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You were silent as manufacturing went up, up and up during Biden The sad fact is it appears the only tool we use to fight inflation is increasing unemployment. There is not enough political power to go after excess profits and rampant wealth accumulation.
 
Nordberg said:
You were silent as manufacturing went up, up and up during Biden The sad fact is it appears the only tool we use to fight inflation is increasing unemployment. There is not enough political power to go after excess profits and rampant wealth accumulation.
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Biden will continue to lie and say manufacturing is in great shape
 
When the elites have been claiming for a couple of years now that they want to "reshore" manufacturing....

It wont happen.
 
Nordberg said:
You were silent as manufacturing went up, up and up during Biden The sad fact is it appears the only tool we use to fight inflation is increasing unemployment. There is not enough political power to go after excess profits and rampant wealth accumulation.
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The reason manufacturing went up is because the whole country was shut down, then when it opened up, jobs went up. Duh!
 
Guille said:
It'll go lower. You're probably looking at about another 3 or 4 years before we recover. When the lockdowns fucked the supply chain we were looking at a 36 month recovery best case scenario. We're not dealing with best case now so it may take a lot longer.

Put simply, we're dealing with logistical problems caused by a global lockdown.
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Yes the democrats caused the problems with their lockdowns
 
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