Serious question: Does the Trumpster's false statements about gdp and job increases, manufacturing growth, and eliminating budget deficits count as four lies or just one lie?
U.S. manufacturing contracts further, tempers economic growth hopes
U.S. factory activity contracted for a fourth straight month in November as new orders slumped back to around their lowest level since 2012, while construction spending fell in October, tempering optimism over the economy that had been fanned by a recent run of upbeat reports.
The data on Monday led the Federal Reserve Bank of Atlanta to slash its gross domestic product estimate for the fourth quarter.
“There is nothing to point to in this report that signals a bottom in domestic manufacturing and the decline in new orders if anything suggests downside risk,” said Andrew Hollenhorst, an economist at Citigroup in New York.
The downturn in manufacturing in the United States bucked trends in the euro zone and China, where factory activity appeared to stabilize in November.
“We expect trade policy uncertainty to continue weighing on manufacturing activity into the new year. Slower external and domestic demand will also constrain manufacturing moving forward,” said Oren Klachkin, lead economist at Oxford Economics in New York.
The ISM said “global trade remains the most significant cross-industry issue.” It said only five industries, including paper and computer and electronic products reported growth last month. Transportation equipment, machinery, and electrical equipment, appliances and components were among the 13 industries reporting a contraction.
Wood products manufacturers complained “profits are elusive,” noting that “markets have downshifted further,” and that “the continued confusion surrounding China trade has kept export markets on edge.” Petroleum and coal products manufacturers said the “slowdown in business has us revising our 2020-21 capital spend.”
Forbes: Trump Is Falling Almost 1 Million Jobs Short Vs. Obama
Trump entered office on January 20, 2017, and starting with February 2017 he has been President for 29 months. Total job growth during that time has been 5.613 million or 194,000 per month with those results being helped by the tax cut.
Working back from January 2017, Obama’s last month in office, there had been 6.423 million jobs added or 221,000 per month. The difference for the 29 months is 810,000 more jobs or 27,000 more per month than Trump.
U.S. manufacturing contracts further, tempers economic growth hopes
U.S. factory activity contracted for a fourth straight month in November as new orders slumped back to around their lowest level since 2012, while construction spending fell in October, tempering optimism over the economy that had been fanned by a recent run of upbeat reports.
The data on Monday led the Federal Reserve Bank of Atlanta to slash its gross domestic product estimate for the fourth quarter.
“There is nothing to point to in this report that signals a bottom in domestic manufacturing and the decline in new orders if anything suggests downside risk,” said Andrew Hollenhorst, an economist at Citigroup in New York.
The downturn in manufacturing in the United States bucked trends in the euro zone and China, where factory activity appeared to stabilize in November.
“We expect trade policy uncertainty to continue weighing on manufacturing activity into the new year. Slower external and domestic demand will also constrain manufacturing moving forward,” said Oren Klachkin, lead economist at Oxford Economics in New York.
The ISM said “global trade remains the most significant cross-industry issue.” It said only five industries, including paper and computer and electronic products reported growth last month. Transportation equipment, machinery, and electrical equipment, appliances and components were among the 13 industries reporting a contraction.
Wood products manufacturers complained “profits are elusive,” noting that “markets have downshifted further,” and that “the continued confusion surrounding China trade has kept export markets on edge.” Petroleum and coal products manufacturers said the “slowdown in business has us revising our 2020-21 capital spend.”
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www.reuters.com
Forbes: Trump Is Falling Almost 1 Million Jobs Short Vs. Obama
Trump entered office on January 20, 2017, and starting with February 2017 he has been President for 29 months. Total job growth during that time has been 5.613 million or 194,000 per month with those results being helped by the tax cut.
Working back from January 2017, Obama’s last month in office, there had been 6.423 million jobs added or 221,000 per month. The difference for the 29 months is 810,000 more jobs or 27,000 more per month than Trump.
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www.forbes.com
