Would you look at that! - Manufacturing “unexpectedly contracts” in July
The Institute for Supply Management's factory index was little changed at 49.8 last month from 49.7 in June. Fifty marks the dividing line between expansion and contraction. Economists surveyed by Bloomberg News projected a reading of 50.2, according to the median estimate.
Cutbacks in household purchases, unemployment exceeding 8 percent, Europe’s debt crisis and slower global growth threaten to further restrain an industry that’s been a source of strength for the economy. Factories may also temper production as companies curb spending out of concern that lawmakers will fail to prevent automatic government spending cuts and higher taxes from going into effect next year.
Estimates in the Bloomberg survey of 84 economists ranged from 48.5 to 52 for the Tempe, Arizona-based ISM’s factory report.
And begorrah, why not - I ain't buyin' jack until the Lyin' King is out of office.
That new soundbar, set o' tires, bushing for the transmission, 3 pc suit, dress shoes, etc. etc. can all wait 'til Nov. 7 aka Xmas in November
some might call it Canadian Xmas but I call it emancipation