Manufacturing Is Officially In a Recession

With 2019 behind us, we now have a full year’s worth of measurements of the ISM’s Purchasing Managers’ Index for manufacturing. Here it is:

The typical measure of a recession is two consecutive quarters of contraction, and the quarterly averages for Q3 and Q4 are both negative. So manufacturing is in a recession.

The lesson here is simple: pray that Donald Trump ignores you. If he loudly tries to help, you are almost certainly doomed.

FACT:

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2021 demands.

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