U.S. Factory Production Falls; Capacity at Record Low

It's all good folks. It's happy happy joy joy time.

One good thing comes out of this though.

Ammo and firearms sales are at a record high. Imagine that.

Do your part to help the US economy.


:bammanload: :bmafrarmss:



U.S. Factory Production Falls; Capacity at Record Low (Update1)


By Bob Willis

June 16 (Bloomberg) -- Industrial production in the U.S. fell in May for the 16th time in the last 17 months, reflecting declines in consumer goods and business equipment that signals the manufacturing slump remains broad-based.

Output at factories, mines and utilities decreased 1.1 percent last month, in line with forecasts, after falling a revised 0.7 percent in April, Federal Reserve data showed today in Washington. The amount of industrial capacity in use dropped to a record-low 68.3 percent.

The fallout from bankruptcies at Chrysler LLC and General Motors Corp. may ripple beyond auto-related industries in coming months. Without a rebound in manufacturing, any recovery from the worst economic slump in half a century will take longer to emerge.

“Production is still falling and that can only mean that this recession isn’t over yet,” Chris Rupkey, chief economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said before the report. “The consumer is still on a buying strike so many companies are scaling back their output to adjust for the reduced demand.”

Read more

[link to www.bloomberg.com]

Last Edited by Account Deleted by User on 10/21/2011 05:44 PM