Meek Manufacturing

manufacturingUS manufacturing activity contracted in November, the first monthly decline since 11/12, the second since 07/09. Manufacturing is sputtering due to the strengthening dollar, anemic global growth, low commodity prices and poor capital spending due to lousy corporate profit growth. The last time the Fed raised rates while manufacturing was shrinking was in 1980. That said, the Fed will raise rates in two weeks but at least initially very slowly.

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