US manufacturing grows in Aug
manufacturing sector grew faster than expected in August but private employers unexpectedly cut jobs, showing the economic recovery still buy canada goose jacket cheap faces major headwinds. economic growth was stagnating. The jobs data, and a report construction canada goose store spending hit a 10 year canada goose coats low in July, Canada Goose online kept alive concerns canada goose black friday sale the economy could dip back into recession.
in the middle of what is typically a growth scare, where the economic cycle slows down cheap canada goose uk after an initial run up as canada goose uk shop stimulus fades and we transition from stimulus to canada goose outlet having the economy standing on its own, said Jason Pride, director of investment strategy at Glenmede Investment and Wealth Management in Philadelphia.
our expectation is that we don have an economic double dip, though we recognize that the risks of something like that Canada Goose Online are a lot higher now that we closer to zero on the growth rate.
The Institute for Supply Management said its index of national factory activity rose to 56.3 from 55.5 in July. That was above financial market expectations for 53.0. A Canada Goose Jackets reading above 50 indicates expansion in the sector.
Separately, the canada goose private sector cut 10,000 jobs in August compared to a uk canada goose outlet gain of 37,000 in July, ADP Employer canada goose uk black friday Services said. stock indexes rallied on Canada Goose sale the manufacturing cheap Canada Goose report, while canada goose clearance prices for safe haven government debt Canada Goose Outlet fell. dollar rose versus the yen. mortgages:For a graphic canada goose factory sale on global manufacturing:
MANUFACTURING GROWING, BUT JOBS LAG The government is expected to report on Friday that nonfarm payrolls dropped 100,000 in August, the third straight month of job declines, while private sector employment increased only 41,000, according to a Reuters survey. [ID:nN31235915]
Last month, second quarter gross domestic product buy canada goose jacket data showed the economic recovery slowing canada goose uk outlet as the boost from an $814 Canada Goose Coats On Sale billion government stimulus package and business inventories rebuilding fade.
But manufacturing, which has been leading the recovery, is still showing Canada Goose Parka some canadian goose jacket strength and has expanded every month since August 2009.
the first half of the year we saw much stronger growth on average, now we seeing things plateau, but certainly there no sign of a double dip in manufacturing, said Norbert Ore, chairman of the ISM manufacturing business uk canada goose survey canada goose coats on sale committee.
The manufacturing sector added jobs in August, according to ISM, though Ore said pace of hiring remains fairly slow.
lost a jacketstock lot of jobs in the manufacturing sector and replacing them is very slow, he said.
have tools that would bring unemployment down without worsening canada goose clearance sale our long run fiscal outlook, if we can only find the will and the wisdom to use them, Romer said in excerpts from a speech she will deliver later at the National Press Club.