Layoffs are increasing, prices are still increasing, and the housing market is collapsing. What do you say, March before we're in fullblown recession?
Biden's second recession looming
- Thread starter TarHeelEer
- Start date
The purchasing manager's index (PMI...what businesses look at to evaluate which way the economy is going) has posted it's 2nd straight decline.
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In December the composite output index covering manufacturing and services hit the second-lowest since the global financial crisis if early pandemic lockdown months are excluded. While backward-looking GDP estimates are so far showing surprising resilience for the fourth quarter in the face of Fed rate hikes, the PMI is an early warning indicator that all is not well in corporate America. Any further weakness in January would add fuel to recession worries.
excerpt:
The ISM Manufacturing PMI for the US fell to 48.4 in December of 2022, slightly below forecasts of 48.5, pointing to the 2nd month of contraction in factory activity as Americans are shifting spending away from goods to services. Excluding the decline in April 2020 at height of the covid pandemic, this was the lowest reading since February 2016.
...more
excerpt:
- The Purchasing Managers Index (PMI) is a measure of the prevailing direction of economic trends in manufacturing.
- The PMI is based on a monthly survey of supply chain managers across 19 industries, covering both upstream and downstream activity.
- The value and movements in the PMI and its components can provide useful insight to business decision makers, market analysts, and investors, and is a leading indicator of overall economic activity in the U.S.
In December the composite output index covering manufacturing and services hit the second-lowest since the global financial crisis if early pandemic lockdown months are excluded. While backward-looking GDP estimates are so far showing surprising resilience for the fourth quarter in the face of Fed rate hikes, the PMI is an early warning indicator that all is not well in corporate America. Any further weakness in January would add fuel to recession worries.
As a dumb welder I don't know what a lot of that means, but what I do know is my paychecks don't go near as far as they did 2, 3 years ago. I do know my 401k has taken a huge hit , my personal stocks are not growing like they should. Work is not near as plentiful and contractors are not paying extras like they did . My .30 cent an hr raise won't cover the cost of eggs. Home improvements have slowed down to as needed basis. My shoes are so worn out I could step on a worn out dime and tell if it's heads or tail....The purchasing manager's index (PMI...what businesses look at to evaluate which way the economy is going) has posted it's 2nd straight decline.
excerpt:
The ISM Manufacturing PMI for the US fell to 48.4 in December of 2022, slightly below forecasts of 48.5, pointing to the 2nd month of contraction in factory activity as Americans are shifting spending away from goods to services. Excluding the decline in April 2020 at height of the covid pandemic, this was the lowest reading since February 2016.
...more
excerpt:
more
- The Purchasing Managers Index (PMI) is a measure of the prevailing direction of economic trends in manufacturing.
- The PMI is based on a monthly survey of supply chain managers across 19 industries, covering both upstream and downstream activity.
- The value and movements in the PMI and its components can provide useful insight to business decision makers, market analysts, and investors, and is a leading indicator of overall economic activity in the U.S.
In December the composite output index covering manufacturing and services hit the second-lowest since the global financial crisis if early pandemic lockdown months are excluded. While backward-looking GDP estimates are so far showing surprising resilience for the fourth quarter in the face of Fed rate hikes, the PMI is an early warning indicator that all is not well in corporate America. Any further weakness in January would add fuel to recession worries.
Bottom line my good man, the economy is not growing, it's shrinking. A shrinking economy usually means a recession is either underway or on the verge of a downturn. With the Federal debt reaching its borrowing limit, and a slowing economy which means even bigger deficits unless we cut discretionary spending drastically....we are heading for some choppy waters.
Guess who we have to navigate us through these rough seas ahead?
Look I'm not Trump OK?
Never underestimate the obvious with a genuine absent minded creep.
I wouldn't call welders "dumb". Last time I checked it required math, science, art, and the ability to read blue prints and plans.
Certain skills some of our politicians seem to lack.
Thanks .
I have a pretty good grasp of economics in layman's terms.
Common sense economics should be taught to all politicians. If ya don't have it don't spend it ...