The manufacturing industry in the United States has officially sunk into a recession. The once-booming industry is struggling to stay alive amid the trade war as production slumped in the second quarter.
Data from the Federal Reserve shows that production in June fell flat. In fact, the numbers were below the expectations of a meager 0.1% gain predicted by Wall Street economists. The U.S. factory sector declined in the three months ended in June, the second straight quarterly decline, the Federal Reserve said Tuesday. For the second quarter, production was down 1.2% after a 1.9% decline in the first three months of the year. Manufacturing fell at a 2.2% rate in the second quarter after a 1.9% drop in the first three months of the year, according to a report by Market Watch.
This news comes as the trucking industry faces an economic “bloodbath” – one that’s bankrupting truckers and companies all while workers continue to lose their jobs.
Trucking BLOODBATH: 2,500 Truckers Have Lost Their Jobs So Far In 2019
But the data gathered on the manufacturing industry is far from sunny. Compared to 12 months earlier, industrial production rose 1.3%. Capacity in use slipped to 77.9% in June from 78.1 in the prior month. In June, increases in manufacturing and mining were offset by a sharp decline in the output of utilities.
The only apparent “bright” spot in the data was that motor vehicle assemblies picked up to a seasonally adjusted annual rate of 11.6 million, for the second straight strong monthly gain. But overall, the news is grim. “The sector is in recession. That’s not news, it’s a consequence of China’s cyclical slowdown and the trade war. We expect another tough quarter in Q3, but by Q4 we think a trade deal will have been done and China’s economy will be turning up,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
NY Fed’s “Recession Probability Index” Is Now At “Alarming Levels”!
As one sector after another officially enters recession, optimism remains high among the talking heads of the media. Focused mainly on the stock market (which helps Wall Street, not Main Street), the mainstream media is still holding back on the dire situation the economy is currently in.
The economic and monetary disaster which seasoned prognosticator Peter Schiff predicted is no longer hypothetical-it is here today. And nobody understands what to do in this situation better than the man who saw it coming. For more than a decade, Schiff has not only observed the economy, but also helped his clients restructure their portfolios to reflect his outlook. What he sees today is a nation facing an economic storm brought on by growing federal, personal, and corporate debt; too little savings; and a declining dollar.–Crash Proof 2.0: How to Profit From the Economic Collapse
by Peter Schiff, book description
I wonder how much of the downturn is due to a shortage of food production, which is way down because of bad weather in our Corn Belt/Farm states?
I don’t know about y’all, but we are using old TV’s, cars and appliances until they break and are unfixable. I think a lot of folks are doing the same. My Wife, who used to buy expensive duds and makeup, now shops at thrift shops and Wally World.
US manufacturing is down because I haven’t been brewing lately lol.
SW,
“I don’t know about y’all, but we are using old TV’s, cars and appliances until they break and are unfixable”
I’ve gone through my entire life that way.
I don’t know the source of the quote but I’m sure it is;
“use it up, wear it out, and then make do”.
I did not really sacrifice much living that way.
Rellik and SW, I do the same thing for my whole life and until I kick the bucket. I also ‘use it up, wear it out, and make do’. Hell, that’s my MIDDLE NAME, LOL. I also go to thrift stores and even some yard sales but I stay out of wallyworld all I can.
Wallyworld around here is more like ghetto mart. I despise that dump
The POM website has a great ASSortment of hygienically challenged, half-undressed humanoids and outlandish motor vehicles. www peopleofwalmart dot com…
I have been living that way for quite a long time actually – so that allows me to purchase other, important “items” so to speak.
Whats around here articles are are uninteresting and comments are in the single digits.
So what gives where is everyone??
I think people are tired of having to refresh every page to get things to show up. And if they haven’t figured it out they probably think there are few/no comments.
I stop by only weekly now, Mac’s stories have become click bait Amazon affiliate, end of the world, buy your seed bank, “bullshit” fables.
The stories here have become worse than ABC, CBS, CNBC, CNN. Could, maybe, if, and the hundreds of other turds…. are not facts.
Really, if you’re not having the best time of your life during the past 20 years you really do have a shitty life. But the government owes you nothing.
Politics
Sci-fi
Fear Porn
Ads for seed banks and pm’s
The above make up 99.999% of articles
The above brought out a whole new host of posters and caused the majority of veterans to leave.
Oh Iv’e been having a great time the last 20 years. I made sure I set myself up so I could. Seed banks are a good idea, that way I can feed my slaves I’m going to capture. Ya got ta think about these things!
Bert,
I stop by often as I internet surf while listening to my streamed radio shows.
I never go to “ABC, CBS, CNBC, CNN.” or MSNBC.
I hit RT, Jersulem post, India Times, Peoples daily( China)
BBC, Daily mail, et al.
In fact the only American “News” I have regular contact with is the on-line edition of my local paper and the Honolulu local news station KHON the half hour version. I do visit Drudge, But I am very selective. I don’t read any major American “news” sources AP, NYT, WaPO, Sun Times, LA times never get read.
I hope you stick around as you have interesting insights.
Actually the Gov’t owes us a hell of a lot of something for the 40%+ they STEAL from our god damned paychecks every single time we get paid in the damn country. They take our stolen funds and piss it away on vile ILLEGAL INVADERS and on and on. This place is done, finished, toast…wait and see people. The writing is all over the walls.
my comments are not allowed
Looks like I was right again in my prediction last Feb. that silver would be going up in 6 months. I also predicted the 2008 crash. I should get a job writing articles and selling subscriptions to a news letter. I guess I am an expert now lol!
Hey old boy! looks like Ol’ Mother Hubbards food cabinets ’round here. Keep the shine flowin’ and the predictions showin’.
I know you know how to fix that lol. I predict I will catch a lot more fish this summer! I also predict this site will go by the wayside if Mac doesn’t fix the updating problem.
The factories were made into bistros and studio lofts, and the railcarts were planted with flowers.
They say, 200yrs ago, the timbers were planted, right there. It took them 200yrs to grow that tall. We have no way of obtaining it, anymore.
In some cases, I have seen, all of equipment would still work, had it not been scrapped.
There is more or less of a market for it, here, because we are not making anything, here.
It’s like they just randomly gave up.
Yes, there is short-term economic pain as we try to reset to FAIR TRADE. Our idiotic politicians gave away our economic advantages for decades. Other countries have become accustomed to ripping off the American tax payer. The long-term goal of our current trade policy is to return to FAIR TRADE.
The old philosophy of many CEOs and other industrial leaders was to only be concerned with their 3 to 5 years at the top of a company. Longer term planning is now required and the old mindset will be blasted into oblivion.
The wealthy have stolen it all and want the scraps you have left over. People decry socialism yet that is the actual plan the thieves have planned to happen. Everything for them and poverty for you. This plan sticks out like a freshly hammered thumb.
the climate change hoax is used to reduce production and force scarcity for everyone. i remember when the 22 ammo shortage was happening and dicks sporting goods was rationing it here on black friday sale. i wanted to get two 500 round bricks and they said one per cust. so i brought my son 13 years old at the time. i said i was gonna buy one for him and they said cant do it. i argued with them saying what is he not a customer. anyway fuck dicks never been back and wont. i will pay more just to not go there if i have to. dicks is un american.
The S&P will be near 3,000 on election night 2021.
The only ones struggling in America are the low IQ no talent people. And yet you want 40 million more illegals to invade, double the debt by entitlements, keep wages down, and destroy the tax base.
! ! ! ! !
Have you heard, the US govt is now calling the 80 million obese American adults and 25 million obese children ===== MALNOURISHED!!! BAHAHAHAHA you get what you deserve. Got to invest trillions more to the low IQ and talent-less shitholers that the left loves so dear. Instead of enforcing the immigration laws you buy a seed bank and bury your head in the sand, you idiot.
Bert, all those BLIMPS you mentioned need to go on a diet.
Bert, those BLIMPS you mentioned all need to go on a diet.
Wait, I thought that the trade war was the only thing keeping canned veggies on the shelves at Walmart. Now the trade war is killing manufacturing? So which is worse? No job, no canned food?
Folks cannot afford to buy overpriced vehicles or much of anything else. Most familys don’t have any extra cash. Ok most car insurance came due every 6 months. so that was due before July 1st.Then the 4 of july holiday they spent everything on that celebration. Now its back to school. and too boot the summer heat the electric bill skyrockets. So tell me who had any money to buy any manufactured product that isn’t absolutely necessary?
This site seems to be in a recession also as posts from 7-17 are the latest to appear at least on this device.