| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Despite Good January, New Fed Manufacturing Data Show US Automotive Slump Continues & Durables in Recession
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Inflation-adjusted manufacturing output rose month-to-month in January (0.49 percent) by its greatest sequential amount since last July (one percent) but revisions back to October were all downgrades. Largely as a result, domestic industry remained on the verge of a technical recession (six months or more of cumulative real production decline). The automotive sector that has led manufacturing’s recovery-era rebound saw real production jump by 2.84 percent – also the best since July – but remains in technical recession, and the durable goods super-sector fell into one.
Fed revisions also cut the annual 2015 manufacturing output gain after inflation to 0.49 percent – barely half the rate previously reported and the weakest increase since the last recession. Constant dollar manufacturing output still remains 1.27 percent lower than at the outset of that downturn – more than eight years ago.
Here are the manufacturing highlights of the Federal Reserve’s new release on January industrial production:
>Inflation-adjusted manufacturing production rose in January by 0.49 percent sequentially – its biggest monthly gain since last July’s one percent increase. But negative revisions for each month going back to October kept domestic industry on the verge of a technical recession, with cumulative real output down for a five-month stretch.
The post Despite Good January, New Fed Manufacturing Data Show US Automotive Slump Continues & Durables in Recession appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/17/despite-good-january-new-fed-manufacturing-data-show-us-automotive-slump-continues-durables-in-recession/
