manufacturing

During the Great Depression, it was the Smoot-Hawley Tariff Act, which in hindsight is blamed for triggering a wave of protectionist actions globally.  Protectionism was a major contributor to the downward spiral that created depression. …

The Federal Reserve Bank of Philadelphia is out with a widely followed Business Outlook Survey for June.  The numbers are very good. Declines in the region's manufacturing sector were much less in evidence in June, according to…

Last month I said that June was significant for two reasons.  First, we are going to get our first test of data that could disappoint, which would spell trouble for an overbought market. But, just as important, we need to watch the…

With more and more major economists predicting recovery sometime later this year, many have forgotten that downside risks remain.  Berner, Roubini, Volcker, Krugman and Bernanke have all come out essentially saying they would not be…

As you can probably tell from previous posts, I like he Currency Strategy Team at Brown Brothers Harriman.  I do not always agree with them – I am generally dollar bearish, whereas they are not – but I do like their analysis.  Marc Chandler…

The Institute for Supply Management released its monthly manufacturing index.  The data shows that the manufacturing sector is still contracting with the headline number rising to 42.8 in May, up from 40.1 in April. This number was ahead of…

A post from Reuters in overnight trading in Asia caught my eye.  It proclaimed “Asia faces up to challenges of global crisis." What I found particularly interesting about the post was the fact that the Asians had set up a $120…

Last month I noted that the ISM Manufacturing index indicated that the manufacturing sector was still contracting, albeit at a slower pace.  The latest data from the month of April show the same phenomenon.  likely, the index has already…

The March 2009 Manufacturing ISM Report on Business is out.  The widely-followed figure of 36.3 for the purchasing manager's index (PMI) shows a manufacturing sector contracting quickly, albeit at a slower pace.  Last month, the PMI was…

Back in February I posted an article called "The bullish argument for the global economy" highlighting Goldman Sachs' Chief Economist Jim O'Neill's bullish view for the economy. O'Neill believed in February that a economic rebound was…