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Sharpest Drop in Manufacturing in past year. Thoughts?

New evidence of a slowing economic rebound emerged Thursday in reports that manufacturing activity is slowing after helping drive the early stages of the recovery.
Factory output fell in June, according to a government report on industrial production. It was the sharpest monthly drop in a year. And two regional manufacturing indexes sank this month. …
Separately, the Labor Department said wholesale prices fell for a third straight month. Prices were pulled down by a drop in energy costs and the biggest plunge in food costs in eight years. But excluding those two volatile commodities, inflation was nearly flat. …
Adding to concerns in the manufacturing sector were steep drops reported Thursday in the Empire State and Philadelphia Fed Manufacturing indexes.

 
grlygrlz2

Asked by grlygrlz2 at 12:13 PM on Jul. 16, 2010 in Politics & Current Events

Level 39 (106,530 Credits)
This question is closed.
Answers (13)
  • Sorry, posted befor that last question.


    What do I foresee in the next 6-12 months? In the immediate I foresee them throwing a lot of stimulus money to create jobs (temporary at that) to put on a good show before midterms. If people aren't hungry and broke then they are less likely to show their anger at the polls. After the election (depending on the outcome), I think we will either see a steady growth from stimulus until the money well runs dry (if Dems hold onto more control than they are anticipating), or if there is a sweep I foresee more tough times ahead and less money being spent and no growth until actual revenue making policy can be put in place.

    QuinnMae

    Answer by QuinnMae at 12:23 PM on Jul. 16, 2010

  • Wait, I'm confused. Wasn't Obama just giving a speech this week talking about all of the manufacturing jobs that were created (batteries or something of that sort) and that these jobs are going to boost manufacturing in our country and that we will be seeing more and more of these jobs? I am pretty sure he said that. Of course, after Biden spouted that those jobs are gone and that we weren't going to be seeing them again. I can't make heads or tails out of what this administration is trying to really tell us. My personal opinion is that they are trying to confuse us so much that we go back to ignoring what they are doing so they can do whatever they want. They don't like all of this immediate media attention when it doesn't work in their favor. Perhaps that's why they want control over google?

    QuinnMae

    Answer by QuinnMae at 12:17 PM on Jul. 16, 2010

  • I completely agree!


    Things aren't going to get better, not really, until we at least get a new leader, one who understands how business works. It is just that simple for me. Maybe too simplistic, but that is how I see it.
    29again

    Answer by 29again at 1:05 PM on Jul. 16, 2010

  • It seems pretty simple to me. When people have faith in the government, they have faith things are going to get better. That faith creates confidence. That confidence makes people more comfortable about buying houses, cars, household goods, clothes, taking vacations, etc. That spending creates jobs.

    It's pretty clear the American people don't have much faith in our government, or it's ability to pull us out of this rut.

    mancosmomma

    Answer by mancosmomma at 1:23 PM on Jul. 16, 2010

  • Couldn't have said it better myself, Quinn!!


    clapping

    LoriKeet

    Answer by LoriKeet at 12:33 PM on Jul. 16, 2010

  • Come on, November!

    We manufacture.

    We are in a position where we are not looking to hire anyone, at all.
    We are content to keep the doors open, with no further layoffs. When fall hits, pre-hunting season, we will need all hands on deck.
    If fall is not good, we will then have to lay people off, which will be a first for us.

    I imagine few businesses will be hiring anytime soon.
    Which I hate.
    We MUST get rid of this administration, and find a new Ronald Reagan.

    I do like a little oversight on Wall Street.
    But expect The Socialist to ruin it with his over-reaching ways!




    mustbeGRACE

    Answer by mustbeGRACE at 1:06 PM on Jul. 16, 2010

  • I keep hearing that things are getting better and we are coming out if not already out of this recession.
    Yet I saw all these this morning and once again have to believe the media is full of crap.

    Citigroup profit dips 10 percent, loan losses fall

    Consumer prices dip for third straight month (AP)

    Homes lost to foreclosure on track for 1M in 2010

    Wall Street slides as consumer data disappoints

    Unemployment benefits claims plunge, but the good news may be temporary

    I'm sorry, I just don't see the good that is supposed to be proof we are out of or even close
    to out of this resession.
    itsmesteph11

    Answer by itsmesteph11 at 2:10 PM on Jul. 16, 2010

  • . Wasn't Obama just giving a speech this week talking about all of the manufacturing jobs that were created (batteries or something of that sort) and that these jobs are going to boost manufacturing in our country and that we will be seeing more and more of these jobs? Yes, here in Michigan. It isn't susposed to go into operation until 2012 but it is also dependent on the sale of battery operated cars, which nobody wants.

    Carpy

    Answer by Carpy at 4:15 PM on Jul. 16, 2010

  • I see deflation. And I see people who haven't paid alot in taxes for the last 12 years hoarding money to be able to afford the increases and the higher prices in gas. Those who don't put their money away now to be able to afford the increases after Jan 2011 will go broke bringing another round of foreclosures and government aid dependand Americans. Double Dip Recession and Deflation. Don't you just love Democratic run societies?
    jewjewbee

    Answer by jewjewbee at 11:37 AM on Jul. 17, 2010

  • As far as manufacturing, I have a friend who was a plant manager for a local paper company. Got canned last month along with half the plant staff. You would recognize the common household name--He never thought people would stop buying toilet paper but evidently they have cause he is out of work and his half million dollar home is up for sale!!
    This country will never be great again until it starts PRODUCING something and BUYING what it produces.
    jewjewbee

    Answer by jewjewbee at 11:43 AM on Jul. 17, 2010

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