The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

WASHINGTON (AFP) – United States manufacturing activity rebounded in June from a contraction in May, but remained lackluster, according to a closely watched report released Monday.

The Institute for Supply Management (ISM) said its purchasing managers index for manufacturing rose to 50.9 in June, up 1.9 points from May’s contraction-territory level of 49.

A PMI reading above 50 indicates expansion, while one below reflects contraction.

Of the 18 manufacturing industries surveyed, 12 reported growth.

“Comments from the panel generally indicate slow growth and improving business conditions,” said Bradley Holcomb, chair of the survey committee.

Manufacturing grew for all but one month in the first half of 2013, according to ISM data.

The June rebound was stronger than the 50.5 reading expected by analysts but at just above 50 indicated continuing weakness in the manufacturing sector, which has been bleeding jobs amid a feeble economic recovery.

“The manufacturing sector is recording such modest growth that surveys cannot tell the difference from stagnation,” said Michael Montgomery of IHS Global Insight.

The PMI index on new orders jumped by 3.1 percentage points to 51.9, and the production index surged 4.8 points to 53.4.

But in a grim look at manufacturing job prospects, the employment index contracted for the first time since September 2009, by 1.4 points to 48.7.

“Slow growth continues to choke the recovery. We are not out of the woods yet by any stretch of the imagination,” a chemicals industry representative told ISM.

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Youtube Screenshot

On July 21, Verizon followed in DirecTV’s footsteps and announced it would not be renewing its contract with the far-right conspiracy theory network One America News. Having learned nothing from its catastrophic response to DirecTV, OAN denounced Verizon and encouraged viewers to harass and boycott the “radical Marxist corporation.” And since then, OAN has only further proved its worthlessness.

Without a major carrier, OAN remains focused on national issues like a fear of roving transgender gangs harassing conservatives, Rep. Alexandria Ocasio-Cortez’s support for gay men who flash “their genitals to little boys and girls” (she appeared on RuPaul’s Drag Race -- a show with no children -- two years ago), and Verizon’s “censorship” of OAN.

Keep reading... Show less
Youtube Screenshot

Postcards from the great American labor shortage: A couple arrives at the Seattle airport after a five-hour flight and stands in line at the car rental desk. People are angry. At the desk sits a harassed employee explaining that he simply has no cars of any kind to rent. Nothing. Why? There aren't enough employees on hand to vacuum, wash, fuel and process the cars.

Another snapshot. A couple has been driving for several hours and requires a bathroom stop. They pull into a Burger King. The doors are locked. The only service is at the drive-thru. Why? Lack of employees.

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}