The recession in U.S. manufacturing persisted for a 13th month in February

[katty]

more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aD9eSQwiZ0Xs&refer=home

U.S. Economy: Manufacturing Slump Persists as Sales, Jobs Sink
Email | Print | A A A

By Courtney Schlisserman

March 2 (Bloomberg) -- The recession in U.S. manufacturing persisted for a 13th month in February as sales dropped worldwide and factories cut jobs at the fastest pace on record.

The Institute for Supply Management’s factory index was 35.8, compared with 35.6 in January. Readings less than 50 signal a contraction. Other reports showed consumer spending rose in January with a spurt of post-holiday discounts, and construction dropped more than twice as much as anticipated.

Stocks fell worldwide on the souring outlook for global growth and the dollar and Treasuries advanced as investors sought a haven from financial turmoil. Manufacturing is likely to keep shrinking as households cut spending in coming months after the worst decline in U.S. employment since the end of World War II, analysts said.

“We are still deep in recessionary levels,” said Sam Bullard, an economist at Wachovia Corp. in Charlotte, North Carolina, who had the closest forecast for the ISM index in a survey by Bloomberg News. “Chances are we aren’t going to see any significant improvement in consumer spending any time soon.”

[Demeter]

1. What US Manufacturing? Do You See Any US Manufacturing?

[katty]

2. yeah--right!!!

[Igel]

3. Yes.

I live not far from some, and sometimes pass through industrial areas east of Houston.

Unless I had a reason to go through thes areas, I'd never know they, or the factories located in them, were there. On the other hand, I grew up near a steel mill and I pay fairly close attention to flatbed trucks and the direction they're going. (I still smile when I see coils of tinplate or a truckload of I-beams.)

[SHRED]

4. Legalize the growing and industrial use of hemp

Now there is a homegrown solution!