Manufacturing has been in contraction for nearly a year and declining for two.
Institute for Supply Management's Aug manufacturing PMI confirms sector is contracting and still signaling broader recession; new orders still falling; only 1 out of 9 manufacturing industries adding jobs; price pressures down as increasing number of firms liquidate inventory: pic.twitter.com/JJgZf8fs2c
— E.J. Antoni, Ph.D. (@RealEJAntoni) September 3, 2023
UNEXPECTEDLY! Federal deficit unexpectedly set to double this year.
What’s happening: Bigger interest payments + lower tax receipts, despite strong economic growth.
“A strong economy usually reduces the deficit. Not this time,” Stein writes.
Perhaps the economy isn’t as strong as the DNC-MSM pretends it is: Interest rates are soaring, raising the alarm for a painful reckoning for America.
h/t Ed Driscoll