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papau Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-02-04 11:47 AM
Original message
U.S. Factories Strong, Construction Slips
http://story.news.yahoo.com/news?tmpl=story&cid=568&nci...

U.S. Factories Strong, Construction Slips



By Ros Krasny

CHICAGO (Reuters) - U.S. manufacturing expanded further in July, fueling more hiring, but outlays for U.S. construction fell unexpectedly in June to hint at a slowing of the housing boom, reports released on Monday showed.

The Institute for Supply Management's national factory index, which rose to 62.0 in July from 61.1 in June, suggested that a "soft patch" in the U.S. economy in June might have been the blip that Federal Reserve officials have suspected and not a change in direction (this 14 months above 50, and 9 months above 60, is the longest stretch of rapid growth in more than 30 years - if you believe the numbers). That should keep the central bank on track to continue raising interest rates.<snip>

Outlays for U.S. construction fell in June by 0.3 percent, the first drop in 16 months, the Commerce Department (news - web sites) said. Analysts had looked for no change from May levels. <snip>


May's spending was revised down to a 0.1 percent gain from a previously reported 0.3 percent advance.
<snip>
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Tempest Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-02-04 11:52 AM
Response to Original message
1. Still not enough
To make up for the decline in consumer spending in the last quarter.

Has the Consumer Train Reached the Station?
http://www.americanprogress.org/site/pp.asp?c=biJRJ8OVF...
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mhr Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-02-04 11:57 AM
Response to Original message
2. Labor Utilization At Only 60% or So
So if labor was a factory, that is like having 40% slack capacity.

Seems like hardly a sterling situation.

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robcon Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-02-04 12:27 PM
Response to Reply #2
4. That data is not capacity utilization, mhr
It is an index of manufacturing, with 1997 as 100.

Capacity utilization was 75.3% in the second quarter.

It was 82.0% in 2000.

http://research.stlouisfed.org/fred2/series/CUMFN/3

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mhr Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-02-04 01:50 PM
Response to Reply #4
7. I Know, I Always Append The Texas Metro Graph To Show
Edited on Mon Aug-02-04 01:51 PM by mhr
How bad things are here.

There are fewer people employed in Dallas today than at the beginning of 2000.
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whistle Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-02-04 12:00 PM
Response to Original message
3. Time for another massive tax cut to the wealthiest 20%....
Edited on Mon Aug-02-04 12:01 PM by whistle
...of American tax payers. As for the manufacturing index, how much of that is military arms build up?
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htuttle Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-02-04 12:31 PM
Response to Original message
5. "US Factories strong"
Shouldn't that read 'Factory' not 'Factories'?
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blindpig Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-02-04 01:34 PM
Response to Original message
6. not around here
we're still closing textile mills. Now, if we had something to sell the DoD......
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