ECONOMY ON THE MEND?
Manufacturing in the United States expanded at its fastest rate in more than four years according to a preliminary reading from financial data firm Markit, which crowed that “U.S. industry is booming again.”
“The US economy rebounded strongly in the second quarter from the weather-related weakness seen at the start of the year,” Markit noted in reporting an increase in its “flash” purchasing managers’ index.
That reading hit 57.5 in June, Markit claims, up from 56.4 in May.
“Data suggests that GDP should be set to rise by at least 3 percent after the 1 percent decline in the first quarter,” the analysis continued.
Well … let’s not get ahead of ourselves. But the reading is a full point better than the 56.5 economists predicted – and the highest reading posted by the index since May 2010.
It’s not all rainbows and unicorns, though …
“If there’s a weak spot it’s the near-stagnation of exports, which raises the possibility that trade will have acted as a drag on the economy in the second quarter,” the report concludes.
Then there’s the broader question of whether the uptick is a short-term reaction to first quarter sluggishness or the beginning of a sustained upward trajectory.
Obviously we hope it’s the latter … although we wouldn’t be surprised if this “flash” reading doesn’t sustain itself.
14 comments
I’m going to need a state-by-state report. Need much more detail than you’ve presented.
Some states, with Republican governors and lawmakers, may be treading water, and not in full Obama collapse.
But – at most- it’s only a band-aid until we can clean house of the horrible tenure of democrats, and Obama.
Obama bama mo mama bannanna fanna fo foma me my mo mamma… Obama!
Nice Dodge…:)
Yes. I have a Dodge Ram 3500 Diesel. I love that truck.
Best truck money can buy. I dearly love mine. My sons use it to pull the service trailer now that I have retired. I have relegated myself to an S10 as a parts goffer truck.
Some states, with Republican governors and lawmakers, may be treading water
Funny how SC isn’t one of ’em, eh?
Have you compared SC’s unemployment rate w/ the national rate?
Don’t you have a blog that needs some more crayoning?
Jan. will be seven years since the Dims took over congress. Everything has been going down since then. Obummer just sped it all up.
RogueElephant, make sure you friend SC Political Digest. We need as many true Conservatives as we can get.
done
Cool. Six nitwits bitchng about Obama for two more years…
It’s another money printing economic stimulus success…..so the question is how bad will the bust be after this mini boom?
Anyone wanna bet on the odds of stagflation versus inflation?
Way to go Nikki. I bet all that growth is coming out of South Carolina thanks the many high paying manufacturing jobs she has brought to the state, including Boeing. Great job governor – keep it up.