Former President Donald J. Trump unveiled his plans for a “sweeping pro-American overhaul of our tax and trade policy” aimed at bolstering American production and shedding economic dependence on China.
Factory activity in the Lone Star state declined for the first time since May 2020.
A surprisingly strong month for business investment.
Another “no landing” report.
China’s government propaganda newspaper Global Times finally weighed in on leftist President Joe Biden’s State of the Union address late Wednesday – after ignoring it for a routine Xi Jinping public appearance – and used its coverage to apparently accuse Biden of plagiarizing President Donald Trump.
The manufacturing sector is in a recession. Hasn’t anyone told Joe?
3M announced Tuesday it will cut 2,500 manufacturing jobs as the industrial giant reported lower profits and offered a lackluster 2023 outlook based on weakening demand.
High energy bills and green agenda policies have led to a major British steel producer halting production in Wales and England, laying off around 440 steelworkers.
Tata Group, India’s largest multinational conglomerate, is reportedly in talks with Taiwan’s Wistron Corporation to purchase the latter’s $600 million iPhone manufacturing plant in Karnataka, India.
Food inflation in Britain hit its highest rate in history in December, as Christmas spending soared while consumers actually took home less.
Manufacturing is rolling over but this probably will not help much on the inflation front.
S&P Global’s survey indicates a second consecutive month of contraction.
A big jump in spending on manufacturing facilities fueled an unexpected rise in November. Home building, however, remains in decline.
Nikolas Stihl, the head of the chainsaw manufacturing company Stihl, has wanted that Germany may be on the verge of deindustrialization.
The European Union is completely reliant on foreign imports for 14 “critical” raw materials needed for industry, a study has found.
The manufacturing sector appears to be rolling over after several months of Fed hikes, global economic weakness, and U.S. consumers shifting spending to services.
On Tuesday’s broadcast of CNN’s “The Lead,” economist and President of Queens’ College Dr. Mohamed El-Erian predicted that inflation will be “sticky” at around 4%, twice the 2% target rate the Federal Reserve has and stated that some parts of
Texas manufacturing declined for the seventh straight month.
Hotter than expected durable goods orders and shipments could mean even higher rates next year.
“Weak economic outlooks are dragging on demand. The indicator last fell below 40 in the initial pandemic shock of 2020,” the Chicago ISM said.
Another one bites the dust.
The third regional Fed report suggesting stagflation.
Oil and gas drilling saw solid gains in September.
Core capital goods order rose 1.4 percent, suggesting business confidence.
Remember that signs of economic strength now likely mean more Fed hikes and a deeper recession later.
Heavy industry experts have warned the European Commission that the EU faces the danger of “permanent deindustrialisation” should Brussels not act now to save the sector.
Amid many signs that the U.S. economy may not have contracted as much as expected given the fevered rate of Fed rate hikes, U.S. wholesale inventories continued to expand in July but at a slower pace. That could indicate cooling
Up to 60 per cent of factories in the UK are now facing possible closure over a massive surge in their energy bills, a manufacturers’ body in the country has now claimed.
Business investment likely fell in real terms in July.
The Kansas City Fed manufacturing survey indicated a significant slump in activity even while it remained in positive territory.
S&P Global’s PMI indicates a second month of contraction driven by a steep drop in services sector demand.
The latest sign that the economy is buckling under the weight of high inflation and rising interest rates.
A bit of relief after the shocking crash in the Empire State manufacturing index.
We regret to inform you that the recession is back on.
On Tuesday’s broadcast of CNBC’s “Closing Bell,” Sen. Joe Manchin (D-WV) reacted to claims by the National Association of Manufacturers that the taxes in the reconciliation bill will hurt the manufacturing sector and reduce GDP and labor income by stating
“The rising cost of living is the most commonly cited cause of lower sales, as well as the worsening economic outlook,” said economist Chris Williamson.
A worrying deterioration in the economy
The Philly Fed’s manufacturing index plunges even deeper into negative territory as high prices destroy demand and interest rates rise.
Price growth remains elevated in the services sector even while new orders have gone into contraction.
New orders and employment measures fell into contraction in June.
