U. S. Manufacturing Contracted in November
As we head into the Christmas Holidays, it looks like the manufacturing sector slowed by 2.2% in November, what a lump of coal that could be!
The Institute of Supply Management, the organization that monitors manufacturing activity through monthly surveys reports today. New orders also fell by 3.9%. Other data seem to suggest a slowing down from previous months.
Here’s What respondents are saying …
- “Conditions still appear to be positive for continued growth in sales.” (Machinery)
- “Business is steady, but not much more than that. We are in a lull.” (Food, Beverage & Tobacco Products)
- “The principle business conditions that will affect the company over the next three or four quarters will be the U.S. federal government tax and budgetary policies; the impact of those policies is not yet clear.” (Petroleum & Coal Products)
- “Differences between first half of year and remaining half are very dramatic, growing to a peak in the middle of the year with a gradual decline since.” (Plastics & Rubber Products)
- “Seeing a slowdown in request for quote activity.” (Computer & Electronic Products)
- “The fiscal cliff is the big worry right now. We will not look toward any type of expansion until this is addressed; if the program that is put in place is more taxes and big spending cuts — which will push us toward recession — forget it.” (Fabricated Metal Products)
- “Seeing a slowdown in demand across markets.” (Electrical Equipment, Appliances & Components)
- “Economy is very sluggish. Production is down and orders have slowed considerably from Q1.” (Transportation Equipment)
- “East Coast storms delayed some shipments.” (Primary Metals)
- “Global economic uncertainty still seems to be sticking around which is not necessarily making things worse, but it is also not making things better from a demand standpoint.” (Chemical Products)
To view the full report, click here.