Friday , October 18 2019
Home / Tag Archives: Manufacturing

Tag Archives: Manufacturing

Dual-Track Economy: Slowdown in Industrial Sectors Hits Truckers & Railroads. But Consumers Are Still Buying Stuff

The hangover after the tariff-front-run boom last year. Freight shipments by all modes of transportation – truck, rail, air, and barge – within the US fell 3.4% in September 2019, compared to September last year, according to the Cass Freight Index for Shipments. For the index – which tracks shipment volume of consumer and industrial goods but not of bulk commodities – it was the 10th month in a row of relentless year-over-year declines: The stacked chart below shows how shipments in...

Read More »

Peter Schiff: Spiraling Toward Recession

Last week, we got bad news in the manufacturing sector. The ISM index of national factory activity dropped to a 10-year low. It was the second straight month the number was below 50, which indicates a contraction in manufacturing. That news sent stock markets into a tailspin. This was followed up by a very week service sector report the following day.In his most recent podcast, Peter Schiff said the service sector is about to follow manufacturing into recession. He also talked about the...

Read More »

GM, Ford, BMW, VW, Honda Shift More Production to Mexico. Auto Imports Surge Despite Decline in US Sales

But Mexican exports to other countries plunge, tripped up by global auto slowdown. By Nick Corbishley, for WOLF STREET: Automakers continue to shift their production base from the U.S. to Mexico, where labor costs pale in comparison with those in the U.S., despite growing opposition from U.S. auto workers and their unions. U.S. imports of new vehicles from Mexico surged by 8% in the first three quarters of 2019, according to the auto manufacturers association AIMA, released by Mexico’s...

Read More »

Here’s Why the Number of Conventional Oil Discoveries Just Hit a 70-Year Low

Will he or won’t he? That seems to be the question on a lot of traders and investors’ minds today with regard to Federal Reserve chair Jay Powell. An October rate cut appeared back on the table after disappointing economic news was released mid-week. But Friday’s mostly-positive employment report may have dashed those chances. First, the “bad” news. The Institute for Supply Management (ISM) reported this week that both the U.S. manufacturing and non-manufacturing sectors weakened in...

Read More »

The Word of the Day Is Volatility: SchiffGold Friday Gold Wrap Oct. 4, 2019

It was a bumpy ride in the markets this week. Right now, volatility is the name of the game – in both stocks and precious metals. People are getting nervous out there with some pretty grim economic data this week stirring up recession fears. Meanwhile, the US government just keeps spending money it doesn’t have. Host Mike Maharrey talks about all of this and more in this week’s episode of the Friday Gold Wrap podcast.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of...

Read More »

Orders of Heavy Trucks Collapse, Layoffs Start

“Fleets are nervous. The latest manufacturing and construction numbers are concerning. The trade issue with China looms.” Layoff decisions by heavy-truck manufacturers are trickling out. A couple of days ago, it was Daimler-owned Freightliner, which said in a statement to WBTV that it would “adjust its production output in line with lower market demand and release approximately 450 production workers [out of 2,878 employees] at its Cleveland manufacturing plant based in Cleveland,...

Read More »

Dow Jones and S&P 500 Off to Worst Start for a Quarter Since the Great Recession

During his podcast earlier this week, Peter Schiff said “the party is over” in the stock market. As if on cue, the Dow Jones is off to the worst start in a quarter since the 2008 financial crisis.The Dow plunged 494.4 points on Wednesday, a 1.86% decline. Combined with Tuesday’s 343.7 point drop, the Dow is down more than 3% in two days. The 800-plus point slide is the worst start to a quarter since the last three months of 2008. In the fourth quarter of that year, the Dow fell 19.4%.Q4...

Read More »

Peter Schiff: The Party Is Over

As Peter Schiff put it in his podcast, if the first trading day of the fourth quarter was a sign of things to come, bulls on Wall Street are in for a rough end to the year. In fact, Peter said the party is over and you don’t want to be the last one to leave. The Dow was down 343.7 points and the Nasdaq shed 90 on a day that started out all sunshine and roses.For a couple of days, the economic news wasn’t quite as bad as it could have been, or maybe some of the numbers...

Read More »

Tariff-Front-Running Hits US Manufacturing, after Causing Biggest Surge since 2004

Supply chains begin to shift back to US suppliers, “due to tariffs.” Two US manufacturing reports were released this morning, one showing the fastest decline since June 2009, and the other showing an increase in growth, and given the bad numbers recently, the fastest growth in five months. So get ready for mild whiplash. The bad news came from the Institute of Supply Management (ISM), whose Manufacturing Report on Business for September fell to 47.8. In this diffusion-type index, a...

Read More »

Light at End of Tunnel or Oncoming Train for the Goods-Based Economy?

What US Freight Shipments and Pricing Say About the Slowdown. Freight shipments within the US fell 3.0% in August 2019, compared to August 2018, the ninth month in a row of year-over-year declines, but it was only about half the rate of declines in May (-6.0%) and July (-5.9%), according to the Cass Freight Index for Shipments. The index tracks shipment volume by all modes of transportation – truck, rail, air, and barge – of consumer and industrial goods but not of bulk commodities....

Read More »