6/04/2012

U.S. Depression Continues: U.S. Manufacturing Slumps 3rd Time in 4 Months

Posted by Brian
Consumer confidence continues to fall as manufacturing orders fell for the third time in four months.  Orders for computers, electronics, machinery, and vehicles all fell.  Non-defense spending, an indicator of overall consumer confidence, fell 2.1%.
Just as a not-so-subtle reminder: Obama declared the recession over in October 2009. Since that time GDP growth is anemic, (2.2% in last quarter), and real household income has fallen nearly 6%, and though the Obama Administration say that his economic programs have created 4 million jobs, over 6 million Americans lost their jobs during that time, for a net of over 2 million Americans out of work since he took office.
Obama told Matt Lauer in 2009 that if he couldn't turn the economy around in three years that his presidency would "be a one term proposition".
Not only has he not turned it around, his policies have made it worse by every measure. Therefore, isn't it right that we should hold him to the standard he set for himself in 2009?


US Factory Orders Post Surprise Fall in April 
Published: Monday, 4 Jun 2012 | 10:12 AM ET

New orders for U.S. factory goods fell in April for the third time in four months as demand slipped for everything from cars and machinery to computers, the latest worrisome sign for the economic recovery.

The Commerce Department said on Monday orders for manufactured goods dropped 0.6 percent during the month. The government also revised its estimate for new orders in March to show a steeper decline. 

Economists had forecast orders rising 0.2 percent in April.
Enhanced by Zemanta
There was an error in this gadget