US Manufacturing Drops In July As Auto Production Slumps

Industrial Production, leaked early, rose just 0.2% MoM in July, missing expectations and slowing from last month's 0.4% gain. Manufacturing production actually shrank (-0.1%)...

 

The biggest driver of the decline was a 3.6% slump in motor vehicle production...

 

Still, none of that matters...

Comments

LawsofPhysics Thu, 08/17/2017 - 09:11 Permalink

Depends what you are "manufacturing"...bankers and financiers continue to flood the world with financial "products" of mass destruction...Hope these fuckers taste like chicken.

Justin Case Juggernaut x2 Thu, 08/17/2017 - 11:00 Permalink

Some observers argue that the first true automobile was gasoline-powered. They point to not one but two inventors:

Karl Friedrich Benz and Gottlieb Daimler. The two men, who had never met previously, filed their patents on the same day—January 29, 1886—in two different German cities. Benz’s three-wheeled vehicle, which he first drove in 1885, was the first to combine an internal combustion engine with an integrated chassis, while Daimler’s motorized carriage (invented with his collaborator, Wilhelm Maybach) was the world’s first four-wheeled automobile and featured the first high-speed gasoline engine.

In reply to by Juggernaut x2

gregga777 Thu, 08/17/2017 - 09:23 Permalink

Yes, none of the facts from the real economy matters as long as Goldman Sachs Feral Reserve System Universal Basic Income policies for the rich are still in place. The massive increase in the Goldman Sachs Feral Reserve System balance Sheet has gone directly into the pockets of those who own all of the assets.

Rebelrebel7 (not verified) Thu, 08/17/2017 - 09:53 Permalink

Cars are cheap right now. I keep getting pop up ads to buy a Nissan SUV for 21k! 

Major Eric Shunn Thu, 08/17/2017 - 10:09 Permalink

The Liar-In-Chief touts anything good as his personal doing. Let's see if he will take any blame for lower US production rates. He won't but he will blame it on the Democrats, Hillary, Obama, N. Koreans, Republicans, immigrants anything other than himself. 

Justin Case Thu, 08/17/2017 - 11:08 Permalink

Let's see if he will take any blame for lower US production rate.anything other than himself.

Are you not reading the real news? Every initiative he's tried to start is stifled by congress or the courts or internal bickering, investigations, resignations, appointments,fake news attacks, drowning in political bullshit, there is no time to run the corporation USA Inc.

zedwood Thu, 08/17/2017 - 15:31 Permalink

With all the incentives available, most folks bought or leased a new car since it was cheaper.  The percentage of leased vehicles has been rising for years as most folks can no longer afford to buy a car.  So existing used inventory was high because of the incentives to buy new and thousands of lease returns are due to return.  They have done a beautiful job of painting themselves into a corner that will take years to unwind.