Deceleration that was temporarily interrupted by the tax cuts has resumed with the tariffs

by WARREN MOSLER

In contraction:

Deceleration that was temporarily interrupted by the tax cuts has resumed with the tariffs:

The Manufacturing Activity Index in the US fifth district including the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia decreased to -1 in November 2019 from 8 in the previous month, missing market expectations of 6. Shipments (-2 vs 4 in October), new orders (-3 vs 7) and backlog of orders (-11 vs 6) declined while employment softened (5 vs 13).

In contraction:

Both now showing contraction: