April 30, 2012
Important Economic Indicator Drops DramaticallyTopics: Political News and commentaries
As was reported on Friday, the U.S.'s first-quarter GDP growth registered at a dismal annualized 2.2 percent, and now there's more bad news: An important economic indicator, the Chicago Purchasing Managers' Index, has fallen substantially, to its lowest point since November of 2009.
Business activity in the U.S. Midwest slowed more than expected in April, falling to its lowest since November 2009 as new orders slipped, a report showed on Monday.Just another indication that Obamanomics has our nation's economy stuck in neutral as his spending has taken our public debt to a record $15.693 Trillion (and growing every second). And that's not including $50 trillion in off-balance sheet obligations -- $37 trillion for Medicare and $9 trillion for Social Security, etc. -- numbers that are growing faster than inflation and faster than the economy 'when the economy actually grows'.
The Institute for Supply Management-Chicago's business barometer fell to 56.2, below economists' expectations of 61.0. The reading was 62.2 in March.
A reading above 50 indicates expansion in the regional economy. The employment component of the index rose to 58.7 from 56.3. But new orders dropped to 57.4 from 63.3 in March, dragging down the overall barometer of growth.
Then, on top of all this, there's the disastrous effects on our economy if and when Obamacare comes into full effect. .
And let's not forget that the recovery stalled after Obamacare was passed.
Posted by Hyscience at April 30, 2012 12:52 PM
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