declines in production related indicators

The Chicago Fed National Activity Index (CFNAI) decreased to -0.53 in April from -0.23 in March. The index’s 3 month moving average CFNAI-A3 ticked up to -0.04 in April from -0.05 in March. April’s CFNAI-MA3 suggests that growth in national economic activity was very near its historical trend. The economic growth reflected in this level of the CFNAI-MA3 suggests subdued inflationary pressure from economic activity over the coming year.

If you check out the historical CFNAI-MA3 chart  you will see that times of solid economic growth exist ABOVE the historical trend. Basically, we are treading water….even sunk a little in the current reading.

US raw steel production

… rose 1.2 percent last week from the previous week as mills operated at an ACUR of 79.5%. It was the first time production topped 1.9 million tons since the beginning of June last year. In the corresponding week last year mills operated at an ACUR of 79.2%. Thus far this year mills have produced steel at an ACUR of 76.6 percent down from 79.6% for the same time period last year.

118 visits to the White House and Mr. Shulman from the IRS….. and he can only recall being there for the Easter Egg Roll? Are you kidding me?

Mrs. Lerner (head of the IRS division accused of targeting conservative groups):

I have done nothing wrong and I have broken no laws”….but on the advice of counsel I refuse to answer any questions …..Based on my rights under the 5th amendment.

I don’t think you can-legally-plead your case-and then invoke the 5th amendment to the Constitution of the United States.

Mr. Eric Holder, Attorney General of the United States:

I don’t know….”…” I have recused myself from this investigation….”

Muslim radicals decapitate and further mutilate and murder a British soldier on the streets of London, in broad daylight! The citizens there do NOT own guns…..

Friend of the dead Tsarnaev, another radical Muslim, is near admitting to Boston police his involvement(and possibly Tsarnaev’s) in the murders of three several years ago, when he suddenly pulls a knife (how does that happen??) while being questioned by the Boston police. They shoot him dead….

18 individuals being surveilled by the FBI in connection with the terrorist attack on our consulate in Benghazi. The are still alive, why? Because the president wants more evidence…and he wants them tried here, in our country. This is beyond belief. Right to a trial? Are you kidding me?

The Institute of Supply Management (ISM)  released its Purchasing Managers Index for April and reported:

Economic activity in the manufacturing sector expanded in April for the fifth consecutive month and the overall economy grew for the 47th month. The index registered 50.7 percent (readings at 50 and above indicate growth), a decrease of 0.6 percentage point from March’s reading of 51.3, but this is the lowest rate of the year. The New Orders index increased, the Production index increased. Comments from the panel indicate a range of “strong/steady growth, to flat/declining volumes, depending on the particular industry.”

The Precision Machined Products Association writes in its April 2013 Business Trends Report :

Strong shipments and uncertainty, not volatility, seem to characterize our industry at this time. The index was 124 for the second month in a row, indicating that shipments remain strong across the industry. However 40 of 94 respondents reported that their companies shipments had declined in April compared to March, while 32 reported double digit increases.”

New orders for manufactured durable goods in April increased 3.3 percent.

As we ready to celebrate this Memorial Day Weekend please take a moment to reflect, to give thanks to those who have made the ultimate sacrifice that we may enjoy the many freedoms we do, freedom fought for by so many. Commit to yourself, your family, your country that these freedoms, passed to us at such a huge cost shall never be taken from the citizens of the United States.

God Bless America