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Thread: Service side of economy grows at slowest pace in 3 years, ISM finds, adding to recession worri

  1. #1

    Service side of economy grows at slowest pace in 3 years, ISM finds, adding to recession worri

    https://www.marketwatch.com/story/se...onomy-politics

    The numbers: Service-oriented companies that employ the vast majority of Americans registered the weakest growth in September in three years, adding to a cacaphony of reports showing a broad slowdown in the U.S. economy.

    The Institute for Supply Managementís said its non-manufacturing index fell to 52.6% last month from 56.4% in August. Economists polled by Marketwatch had forecast a 55.3% reading.

    Numbers over 50% indicates businesses are growing, but the index has fallen 8 points below its post 2008 recession peak of 60.8% achieved last fall. The decline has coincided with the intensifying trade war with China.

    The lackluster results added to the angst on Wall Street after the research firmís closely followed manufacturing index fell to a 10-year low earlier this week. Losses in the U.S. stock market deepened in Thursday trades.

    What happened: Business production and new orders grew more slowly in September and employment levels were basically flat.

    The index for production slid to 55.2% from 61.5%.

    The employment gauge dropped to a five-year low of 50.4% ó barely above the cutoff point that separates net hiring from net layoffs.
    more at link.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

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  3. #2
    https://www.marketwatch.com/story/us...onomy-politics

    U.S. factory orders down slightly in August

    Factory orders fell 0.1% in August, the Commerce Department said Thursday. The decline was in line with economist expectations. Durable goods orders rose 0.2% in August, unrevised from last week's initial estimate. Orders for nondurable goods fell 0.3% in the month. Core factory orders, excluding defense goods and civilian aircraft, fell a revised 0.4% in August, down from the initial estimate of a 0.2% fall. Shipments of core goods rose 0.3%.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  4. #3
    Factory orders and mnfg are down slightly but service industry is up if you take out bs retail like clothing that is all amazon now and look at food and beverage.
    Do something Danke



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