The media was praising the 2.%% 3rd Quarter GDP as proof the economy was booming. The market rallied as well and the Obama Regime was saying good times are here. As usual, reality intrudes on the Obama Boom theme. Manufacturing and Construction declined last month. More evidence, there is no Obama Boom.
The pace of growth in the U.S. manufacturing sector unexpectedly slowed in October while growth in U.S. construction spending also slowed in September, according to a reports released Tuesday.
The Institute for Supply Management (ISM) said its index of national factory activity dipped to 50.8 from 51.6 the month before and missed expectations of 52.0, according to a Reuters poll of economists.
[….]
Growth in U.S. construction spending also slowed in September as governments cut back on building and maintaining schools and public transportation, a government report showed on Tuesday.
Total construction spending rose 0.2 percent to an annual rate of $787.21 billion, the Commerce Department said. Economists polled by Reuters had forecast a 0.3 percent increase after August construction spending rose by an upwardly revised 1.6 percent.
Even these numbers won’t put a dent in the Obama Boom. Lies are hard to kill off.
Tags: Construction, Manufacturing, The Obama Boom, The Obama Depression
