And the hits just keep on coming.

Manufacturing, Jobs Reports Add Up to More Bad News

By: Reuters

U.S manufacturing grew in June at its slowest pace in 11 months and hiring in the sector slowed as overseas demand for U.S. products waned, an industry survey showed on Thursday.

The number of Americans filing new claims for unemployment benefits was also little changed last week, according to the U.S. Labor Department.

Financial information firm Markit said its U.S. “flash” manufacturing Purchasing Managers Index fell to 52.9 from 54.0 in May. The June reading was the lowest since last July although it stayed above 50, indicating expansion in activity.

For the second straight month, weaker demand from Europe and large emerging markets such as China dented sales. Markit said U.S. manufacturers reported the second largest decline in new export orders since September 2009.

via Manufacturing, Jobs Reports Add Up to More Bad News – US Business News – CNBC.

  1. cmblake6 says:

    It is going to have to be people waking up to the “The World Ain’t Buying Our Shit Anymore” factor that brings AMERICA back.