“US job growth rebounded in September and the jobless rate fell below 6% for the first time since mid-2008 suggesting the labor market is improving faster than previously thought.”
Wall Street Journal
From the Bureau of Economic Analysis (BEA):
Personal income increased 0.3 percent and disposable personal income increased 0.3 percent in August.
The Texas Manufacturing Outlook Survey
Texas factory activity increased again in September according to business executives responding to the survey. The production index, a key measure of state manufacturing conditions rose markedly, indicating output grew at a faster pace than in August. Additionally, the new orders Index rose, the capacity utilization index surged after dipping in August and the shipments index also rebounded after falling in August. The general business activity index moved up to a reading of 10.8, nearly 4 points above its non-recession average of 7.
US Raw Steel Production
… dropped 2.4 percent last week as mills operated at an average capability utilization rate (ACUR) of 76.7 percent, the lowest level since June. In the corresponding week last year mills operated at an ACUR of 78.3 percent. Thus far this year mills have operated at an ACUR of 77.2 percent up from 77.0 percent produced in the like period last year.
The Institute for Supply Management
In its latest Report on Business for September on Wednesday 10/1, it states that economic activity in the manufacturing sector expanded in September for the 16th consecutive month. The report was issued by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute:
The September PMI registered 56.6 percent, a decrease of 2.4 percentage points from August’s reading of 59 percent, indicating continued expansion in manufacturing.”
Comments from the panel reflect a generally positive business outlook, while noting some labor shortages and continuing concern over geopolitical unrest.
In kind with the report above:
The Chicago Business Barometer decreased 3.8 points to a still robust 60.5 in September as Production and New Orders slowed while firms reported a record rise in stocks and a sharp increase in input prices. With the latest decrease, the Barometer ended the third quarter at an average of 59.1 down from the weather boosted 63.7 rate seen in Q2 but still showing the US economy is still growing at a healthy clip.”
There was a surprisingly sharp increase in stocks with firms adding inventories of finished goods at the fastest pace since February 1973. Feedback suggested firms were preparing for robust sales forecasts and potential spikes in unplanned orders.”
Despite September’s fall the Barometer stands above Q1’s level and the 10 year average of 55.8 with respondents deeming activity levels as “strong” and “surging”, aided by ongoing demand successful sales promotions and organic growth, all of which called for inventory builds.”
This is an encouraging report. Last week I reported on the CFNAI-MA3 which has dropped the past two months but still remains above zero. I would like to see a pop in that index going forward as I believe it to be a much better barometer of US economic conditions.
US Census Bureau News full report on manufacturers’ shipments, inventories and orders for August 2014 released on Thursday 10/02/14:
New orders for manufactured goods in August, down following two consecutive monthly increases, decreased 10.1 percent. Shipments for manufactured goods in August decreased 1.0 percent following two monthly increases. Inventories, up twenty one of the last twenty two months increased 0.1 percent in August.
The Director of the Secret Service, an Obama appointee, came under fire through questioning by Congress this week as facts were revealed regarding security lapses at the White House, in particular the intrusion on the White House by Omar Gonzalez, himself a veteran of two tours in Iraq. Fortunately the president and his family had departed moments earlier. In another instance, it was reported that the president took and elevator ride with an armed felon. What are our security agents doing besides nothing? Though she has a budget near $1 BILLION dollars, she blamed the security lapses on budget cuts. Are you kidding me? How about a modicum of duty prioritization?
At 3:20PM on Wednesday the news reported that Pierson had resigned her position. What took so long? Someone finally held accountable in this no-fault administration.
The Ebola Virus came to Dallas, Texas this week
How does this happen? The traveler came from Liberia, a center of the current viral outbreak. When he became symptomatic, he advised the doctors he came from Liberia; they gave him antibiotics and sent him home. Does anyone take responsibility for what they do? Does anyone look at a passport? It now appears this guy may have been in contact with some 100 individuals on his way from Liberia to the US. It’s reported he was seen vomiting violently in the parking lot of his apartment complex.
In the mean time, another US citizen has been diagnosed with the virus. They are telling us this virus is mostly spread through blood and bodily fluids but the aforementioned victim has been near none of that. This is serious stuff and not to be taken lightly. I agree with those calling for a ban on all flights from western Africa with travelers ultimately headed for the US. Ban the planes and the people. Great Britain and France have already done so.
Sgt. Andrew Tahmoressi
This American hero, has been held in a Mexican shit hole prison for 6 months after making a wrong turn into Mexico. The guy did service overseas and suffers from PTSD. You think the president could muster the balls to call that pipsqueak Nieto and have our boy released? You know, I am an American citizen and I respect the office of the president, still do, but this charlatan we have in office has done and is doing so much to destroy the fabric of our country that it borders on, no, it is, ridiculous. I am glad he will be gone in two years.
I am not one to wish away time but it cannot come soon enough. It is incumbent on all of us to make sure we get the word out for citizens of common sense to vote in November. This behavior cannot continue if we want our country to be as it should be, a country we can leave to our children, our grandchildren and the generations to come after them. This is so sad. The wars we have fought for freedom, the lives that have been lost to preserve freedom and yet we are on the precipice of losing it all. So sad…and yet, still so fixable if we act now.
The Obama administration continues to call the beheading of a woman in Moore, Oklahoma an act of workplace violence. This creep is a muslim fanatic without a doubt. Why are they so afraid to call a rat a rat….or an act of terror an act of terror or a terrorist a terrorist???
Fast & Furious-providing weapons to criminals leading to a loss of American life. No one held accountable. The president was unaware.
The loss of 4 American lives at our embassy in Benghazi, Libya. No one held accountable. The president was unaware.
The IRS targeting conservative political groups for tax-exempt status. No one held accountable. The president was unaware.
The National Security Administration eavesdropping on the phone calls of American citizens. No one held accountable. The president was unaware.
The software program created for the Affordable Healthcare Act, at a cost of $1 billion (thus far) and 3 ½ years to “perfect”, has been unusable to the American people. No one held accountable. The president was unaware.
Spying on our Allies, specifically Angela Merkel of Germany. No one held accountable. The president was unaware. (Although these things go on knowingly between countries all the time, the fact that our president denies knowledge of this is just another sign of his incompetence as the leader of the most powerful country on the planet).
“If you like your current insurance plan you can keep it. Period” Barack Obama
“If you like your doctor, you can keep him. Period” Barack Obama
Have a great weekend and….
Hug your children and grandchildren, tell them you love them.
Buy American made products whenever you can.
Hire a Veteran: they are patriots, honest, hard working, disciplined, loyal…. and …. They need and deserve our support.
God Bless America