Biden Ruins American Manufacturing
America is getting worse.
In a sad turn of events, American manufacturing slipped in the month of December making it the weakest reading of 2021.
According to Breitbart, the “U.S. manufacturing purchasing managers index” reading came down to 57.7. The previous reading from November was 58.3. This came as a major shock to economists because they strongly believed it would go up.
The December reading of 57.7 was the lowest reading of the year and is likely caused because of material shortages and supplier delays that will not stop mounting up.
Sian Jones, senior economist at IHS Markit, stated, “December saw another subdued increase in US manufacturing output as material shortages and supplier delays dragged on. Although some reprieve was seen as supply chains deteriorated to the smallest extent since May, the impact of substantially longer lead times for inputs thwarted firms’ ability to produce finished goods yet again.”
“Adding to the sector’s challenges was an ebb in client demand from the highs seen earlier in 2021, with new orders rising at the slowest pace for a year, largely linked to a reluctance at customers to place orders before inventories were worked through. Alongside a slight pick-up in hiring, softer demand conditions contributed to the slowest rise in backlogs of work for ten months,” Jones further explained.
