Planning Briefs
About The Weakness In Manufacturing
Published Thursday, September 5, 2019 at: 7:00 AM EDT
After the manufacturing sector numbers for August were published on Tuesday, September 3rd, the financial press erupted with grim headlines. Largely absent from the coverage was proper context: The manufacturing purchasing managers index has predicted six of the last three recessions, and manufacturing accounts for about 12% of U.S. economic activity. Here are the facts. From a record-high level in September 2018 of 61.3%, manufacturing activity has plunged, and the latest monthly data for August showed further deterioration. From 51.2% in July, the manufacturing economy dropped to 49.1%. This data series from the Institute of Supply Management, which certifies purchasing management...
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