This may be boring but it matters: The Institute of Supply Management‘s index of manufacturing activity released Friday hit its lowest level since the end of the Great Recession in December. 47.2 is their measurment. A number below 50 indicates a shrinking condition. It shows worsening conditions for the U.S. manufacturing sector, which has been in contraction for five straight months, and reignites concerns about the trade war’s impact on the economy.
The declining manufacturing sector is impacting states that helped Donald Trump win the presidency.
Nine states’ economies are expected to slide into contraction within six months — the most since the financial crisis ended more than a decade ago, according to the latest projections from the Federal Reserve Bank of Philadelphia.
West Virginia’s economy is forecast to shrink the most, while a decline in neighboring Pennsylvania is anticipated to be the most severe since May 2009. Add to that list of shrinking states are Delaware, Montana and Oklahoma Vermont, New Jersey, Kentucky and Connecticut.
Democrats will be praying that things get worse. Republicans will be saying we are only going through a soft patch and better days are ahead.
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