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Manufacturing Activity Plunges 

By JEANNINE AVERSA (Direct descendent of Joseph Stalin! - tha malcontent)
Associated Press Writer JULY 17, 09:33 EST

WASHINGTON (AP) � Manufacturing activity plummeted in June, the ninth straight monthly decline, providing fresh evidence that the battered industrial sector continues to bear the brunt of the yearlong economic slowdown.

 

("...the ninth straight monthly decline, providing fresh evidence that the battered industrial sector has been hurting since the economically incompetent Clinton Administration was in office and squandered the great economy it inherited from Bush (41) back in 1992 by virtue of having absolutely no economic agenda, something William the Liar specifically campaigned on, but never delivered."  That's how that would have read if the facts and the Truth were the main objective of the "Free Press" when "informing" the people!  Instead, we are being treated to "talking the economy down" stories almost daily from the "Free Press" that just happened to start around January 20th of this year... I wonder what brought that on?  "Remember staff, leave no stone unturned when attempting to find more "evidence" of a declining economy"!, said one unnamed Editor. - tha malcontent)

The Federal Reserve reported Tuesday that industrial production at the nation's factories, mines and utilities declined by 0.7 percent last month, following a 0.5 percent drop in May.

June's decline was the sharpest since industrial output fell by 0.9 percent in January.

 

(If these industries were booming right now, we would be treated to how they negatively effect the environment on the backs of minorities, women and children, and how they do it because (P)resident Bush is in their back pocket!  Mark my words SHEEPle, when it happens, you heard it here first! - tha malcontent)

The latest snapshot of the industrial sector's performance was weaker than many analysts were expecting. They were predicting manufacturing activity would fall by 0.5 percent in June. 

Operating capacity, meanwhile, sank from 77.6 percent in May to 77.0 percent in June as companies throttled back production in the face of sagging demand. That was the worst showing since August 1983.

 

("weaker", "fall", "sank", "throttled back", "sagging" and of course, "worst showing"... No agenda here, you can all go home now, we are in a Depression and Bush Junior should be tried for treason against the American people for his abject destruction of the American economy in only 7 short months of being in office!  Are you "feeling the effects" yet?... PAH-LEEEEEEEEASE! - tha malcontent)

To stave off recession, the Federal Reserve slashed interest rates six times this year. The rate reductions lower borrowing costs and are aimed at generating consumer spending and business investment, which would rejuvenate economic growth. 

 

(Ah, the big "R-word"... like father, like son!  The "Free Press" will talk this economy down to recession if it's the last thing they do! - tha malcontent)

Fed Chairman Alan Greenspan on Wednesday will provide Congress with his twice-a-year report on the economy. Many analysts believe he will deliver a cautiously optimistic assessment and that he may signal that the Fed's latest credit-easing campaign may be coming to a close. Still, analysts believe Greenspan won't close the door on another interest rate cut in the future.

 

(And here is the man responsible for the slowdown.  A little history lesson for those of you with short attention spans, Alan Greenspan raised rates multiple times in an effort to slow an economy that was bordering on "dangerously to fast" in it's pace of growth.  If you gots complaints, send them to Big Al! - tha malcontent)

Tuesday's report showed that output at factories fell by 0.8 percent in June, after a 0.5 percent decline. Production of big-ticket items manufactured goods, such as cars, posted the sharpest decline. 

Mining production fell by 0.4 percent in June, after a 0.1 percent decline. But output at gas and electric utilities rose by 0.9 percent, following a 1.7 percent drop in May. 

For the April-June quarter, total industrial output fell at an annual rate of 5.6 percent, following a 6.8 percent rate of decline registered in the first quarter.

 

("fell", "decline", "sharpest decline", "fell", "decline", "drop", "fell" and "decline"... nice job "Free Press"!  No one talks an economy down quite like the "Free Press", especially when there is an (R) occupying 1600 Pennsylvania! - tha malcontent)

Recent economic data have offered mixed signals on the industrial sector, which many believe is in a recession of its own.

 

(It takes a Bush in office to fester the word "recession" out of the "Free Press".  Of course, we were out of the last "recession" in March of 1991, but come November of 1992, the American people still didn't know about the record breaking growing economy they were enjoying... not until about December of 1992!  More evidence of my far fetched "theory" that the "Free Press" is batting for the DemocRATS!  I know, it's a reach! - tha malcontent)

Earlier this month, the National Association of Purchasing Management reported that a key gauge of industrial activity in June turned in its best performance in seven months. Even with the improvement, the measure was at a level indicating that the manufacturing sector of the economy remained in recession.

 

(Recession reference #3! - tha malcontent)

The group's purchasing index rose to 44.7 percent from 42.1 percent in May. An index above 50 signifies growth in manufacturing, while a figure below 50 shows contraction. June's 44.7 percent reading was the highest since 47.9 percent in November. 

At the time, analysts were heartened that the index regained some lost ground and were hopeful that the worst of the manufacturing recession may be over. 

 

(And to top the propaganda off, we have recession reference #4!  Quality work rewriting the latest DNC Talking Point into a "legitimate" news story "Free Press", I am impressed, as always!  How do you keep up the vigil everyday, day after day? - tha malcontent)



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