The title of the post is the actually headline opf this story. Once again, unknown economists are wrong! manufacturing activity slowed down and using one of their favorite phrases, more than expected.
Although the pace of growth in the U.S. manufacturing sector slowed more than expected in July, contruction spending hit a six-month high in June, according to reports released Monday.
A reading below 50 indicates contraction in the manufacturing sector, while a number above 50 means expansion.
New orders fell to 49.2 from 51.6. Prices paid was down at 59 from 68. The employment index fell to 53.5 from 59.9.
The media and these mysterious economists still haven’t given up on the fictionally Obama Boom. No matter how many bad reports come out, they still expect good numbers. They are either clueless or delusional!
