Manufacturing grows at fastest pace in 6 years

[HughMoran]

Manufacturing grows at fastest pace in 6 years
Index rises to better-than-expected 60.4 in April, trade group says

By Tali Arbel
updated 22 minutes ago

NEW YORK - The U.S. manufacturing sector expanded at the fastest pace in nearly six years, as factories continue to lead the economy's rebound.

The Institute for Supply Management, a private trade group of purchasing executives, said Monday its manufacturing index rose to 60.4 in April from 59.6 in March. It's the ninth straight month of growth. A level above 50 indicates expansion.

It is the fastest pace of growth since June 2004 when the index was at 60.5.
...

ISM said its employment index, which measures employers' willingness to hire, rose to 58.5, the strongest level since January 2005, from 55.1 in March.

...

http://www.msnbc.msn.com/id/36911628/ns/business-stocks_and_economy/

_______________________________________________________________________

I hope this trend continues - I especially like the sentence I highlighted concerning jobs.

[rufus dog]

1. Index above 50 from these guys has been golden

being at 60 is solid for growth.

[Clio the Leo]

2. And consumer spending is at its highest level since March '07.....

http://www.marketwatch.com/story/retail-stocks-rise-consumer-spending-at-a-record-2010-05-03-103700?reflink=MW_news_stmp

[HughMoran]

4. Wow, looks like some are snapping out of the funk we've been in

Let's hope it continues as it's good for Dems in the fall (and BHO in 2012).

[1776Forever]

3. I just posted about Whirlpool in OH adding 324 jobs - link below

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4365291&mesg_id=4365826

[Dappleganger]

6. That post needs it's own thread.

It is GOOD news!

[Lost4words]

7. Whirlpool to cut 4,500 jobs,, some of you cant see the forest for the trees!

http://www.usatoday.com/money/industries/manufacturing/2006-05-10-whirlpool_x.htm



BENTON HARBOR, Mich. (AP) — Whirlpool (WHR) said Wednesday that it will eliminate 4,500 jobs by closing three plants and consolidating corporate offices and other sites following its purchase of rival appliance maker Maytag. The moves come in the wake of Whirlpool's $1.8 billion acquisition of Maytag on March 31, extending its lead as the nation's biggest appliance maker.

Whirlpool plans to close Maytag washer and dryer plants in Newton, Iowa; Herrin, Ill.; and Searcy, Ark. Laundry manufacturing sites in Clyde, Ohio, and Marion, Ohio, will absorb the production, Whirlpool spokesman Daniel Verakis said.

Also slated to close are Maytag's corporate headquarters and research center in Newton, Iowa, as well as administrative offices in Schaumburg, Ill., Canada and Mexico.

Verakis said Whirlpool said the functions of the former Maytag corporate headquarters will be consolidated with those in Benton Harbor, where Whirlpool is based.

the jobs you are citing are being added are in Cananda, which is good for them. That sure dosent sount better to me!

[1776Forever]

9. No it says they are in Ottawa OHIO and OHIO is giving them tax incentives.

Read the article here:

Whirlpool gets Ohio tax credit for freezer plant
POSTED: 08:52 a.m. EDT, Apr 27, 2010

OTTAWA, OHIO: State officials have agreed to give appliance maker Whirlpool Corp. a job tax credit worth $821,000 over seven years to expand operations at a northern Ohio freezer plant.
Whirlpool bought the factory in Ottawa last year from a Canadian company. It called back 125 workers in January but promised employment for only about three months. Now Whirlpool says it will keep the factory open and expand employment to 190 this year.

The Ohio Tax Credit Authority approved the job tax credit Monday.
Whirlpool, based in Benton Harbor, Mich., has about 10,000 workers in Ohio, with appliance factories in Clyde, Marion and Findlay.
___
Information from: The Blade, http://www.toledoblade.com/
OTTAWA, OHIO: State officials have agreed to give appliance maker Whirlpool Corp. a job tax credit worth $821,000 over seven years to expand operations at a northern Ohio freezer plant.

Whirlpool bought the factory in Ottawa last year from a Canadian company. It called back 125 workers in January but promised employment for only about three months. Now Whirlpool says it will keep the factory open and expand employment to 190 this year.

[HughMoran]

10. 1) his son works there 2) it's Ottawa OHIO!! 3) Whirlpool bought Maytag?

I didn't know that, but I do know that I lost my job when we acquired a large competitor - consolidation is never good, but it's not what you are making it out to be - your post is more deceptive than you are claiming that his is - shame on you.

[Lost4words]

12. sorry, didnt have my facts 100%, I stand corrected....

but my point was that a little improvement here does not mean much when that many jobs or more are also being lost.

But I have seen nothing that is going to solve the high unemployment problem we have today, and until people have income they wont be spending, or paying into tax roles.

consolidation is never good for the consumer, never good for competition. We used to have a forth estate serving the public, now the airwaves and the press are owned by a handful of corporations.

I was ineffective making that point the first time around.

:dunce:

[Dappleganger]

15. This post is misleading and has nothing to do with the OP.

It really should be removed into its own thread. Also, your conclusions are also misleading and have nothing to do with the OP.

[karynnj]

41. You are the one missing the forrest for the trees

The jobs sited are in Ohio - why do you think they are in Canada? I do agree that Whirlpool may not have a net positive addition of jobs.

Here you have two American companies combining, Whirlpool and Maytag. Many former Maytag sites, many in Iowa where Maytag was headquartered are closing. There will be SOME additional jobs added in places where Whirlpool was - including Benton Harbor, Michigan and Ohio. When big companies merge, real pain is created in at least one - often both companies - though Wall Street is usually very happy.

[Nicholas D Wolfwood]

44. So no one should be happy about adding jobs until they ALL get added back?

That's fucked up logic.

[SemiCharmedQuark]

48. Someone alert President Bush!

Also, put me down for 1000 bucks on the Cardinals winning the World Series this year.

[ClarkUSA]

5. Sure looks like Pres. Obama, Geithner & Sommers have done a great job of saving our economy from....

... going off a cliff, no matter what the usual clueless naysayers claim. Though they are a lagging indicator, jobs numbers should keep improving. Within a few years, national unemployment numbers should go down to their "normal" range of 5.5%-6%.

:kick:

[Kahuna]

8. Not Geithner. Not Sommers. Some DUers just the other day were

still calling for Geithner's arrest. :wow:

[Name removed]

11. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[ClarkUSA]

17. lol! "Some DUers" keep ignoring hard economic data in favor of the same ol' pitchfork polemic.

I am constantly amused at how many self-appointed experts here think they know how to govern this country's economy better than Team Obama when they have been proved wrong time and again since Day One.

[CTLawGuy]

37. my favorite is when they

say that Geithner should go back to Goldman Sachs... Geither has always worked in the public sector and has never worked for GS.

[DrToast]

13. Now we need to start taking credit for it

There's a recovery happening, but it's not helping at the polls yet. I know it will take a while to sink in, but we need to start driving the point home.

[ClarkUSA]

14. I agree. Not sure what the Democratic caucus is waiting for. Pres. Obama can't do it all himself.

Democrats are the worst when it comes to self-promotion. Too many of them are too busy whimpering in a corner at the thought of the midterm elections instead of fighting tooth and nail to get the truth out.

[ChimpersMcSmirkers]

26. The overall unemployment rate has to go down before we'll get credit.

The media only focuses on the "big" numbers. I'd say when it gets below 9% maybe. It may happen right around election time.

[HughMoran]

16. Yay, the unrec police showing up as expected - 4 unrecs in the last 1/2 hour

I guess our little visitor alerted the 'no good news is allowed' crew to do their handy work!

:think:

[Donnachaidh]

18. uhh huh --- US GDP growth rate is unsustainable; recovery will fade

http://www.creditwritedowns.com/2010/04/us-gdp-growth-rate-is-unsustainable-recovery-will-fade.html

"The US turned in a fairly robust quarter in Q1 2010, with real GDP growth meeting expectations at 3.2% annualized. This comes on the back of a very robust annualized 5.6% growth in the previous quarter. This is the best growth two-quarter growth we have seen since 2003.

However, when one digs deeper, it is obvious this growth is unsustainable because it is predicated on a reduction in savings rates and a releveraging of the household sector. As a result, I expect weak GDP growth in the second half of 2010.

Read more: http://www.creditwritedowns.com/2010/04/us-gdp-growth-rate-is-unsustainable-recovery-will-fade.html#ixzz0mtDqyeJI


All the chanting in the world won't wipe the lipstick off the pig...

[HughMoran]

19. Ahhh, another of those who are hoping for failure

At least you are consistent - I've never witnesses you stating anything positive!

[girl gone mad]

36. "hoping for failure"

You are one sleazy poster. Jeez, I forgot you were off ignore. I'll fix that asap.

[HughMoran]

40. Speaking of

Hate Inc.

[ClarkUSA]

23. Your op-ed source doesn't say "recovery will fade". Even he says GDP growth will continue.

Of course, naysaying op-eds are a dime a dozen. All of them - and you - were wrong before.

I'll stick to hard economic facts as evidenced in the OP because all the Debbie Downer chanting in the world won't wipe Team Obama's success at saving the economy off the map. :)

[CTLawGuy]

38. a blog post!

bulletproof source there :eyes:

[Zynx]

39. I'm curious what their forecasting accuracy was if you go back to April of last year.

Just sayin'. Predicting the crash, but missing the recovery makes these people just as reliable as those that did the opposite.

[Nicholas D Wolfwood]

45. Don't you have a hot beverage party to attend? (nt)

[Donnachaidh]

46. don't you?

Wow -- you folks really have learned all the nasty little tricks of the puke party. Proud of it?

[Nicholas D Wolfwood]

47. Well, I'm not the one going out of my way to bash everything positive for Democrats.

So I'm not sure which tricks I learned from you. Why don't you tell me?

[TheKentuckian]

20. Keep churning out the weapons, food products, and heavy equipment

The dollar amount is mostly from big ticket items produced by a few and the quantity from edibles from the labor of many but little money. The general product manufacturing like electronics, cars, die and mold, and textiles that provided real wages to a lot of people is in deep shit as we all know.

[Kingofalldems]

21. K and R for the teabaggers and freepers

[BlooInBloo]

22. Funny watching people be *upset* that American manufacturing is improving...

Who says republicans are the only ones who hate Obama more than they love America?

:rofl:

[TheKentuckian]

25. I'm not upset or unreccing but it is what it is

the manufacturing jobs that pay a living wage are sparse and look to remain that way.

[ChimpersMcSmirkers]

27. To be fair I do think that there are also a lot of freeper trolls here.

[HughMoran]

31. posted for balance!!!

:rofl:

[HughMoran]

24. OOps

Can the other 4 people who would unrec this please identify yourselves and explain why?

[Tarheel_Dem]

28. Come on Hugh. They'll never fess up, but you & I both know why they'd unrec.

I couldn't in a million years, ever dream that there would be people on this board, actually rooting for economic failure to prove a point.

[HughMoran]

30. Just thought I'd ask :o)

ya never know, maybe somebody will fess up and explain their desire to see us fail

[SpartanDem]

29. K&R

[Cha]

32. Bravissimo!

"ISM said its employment index, which measures employers' willingness to hire, rose to 58.5, the strongest level since January 2005, from 55.1 in March."

[HughMoran]

34. Yeah, but there are specific examples from a single company aquisition that make that big number

null and void, dontcha know?

:eyes:

[depakid]

33. Let's just hope they don't have to close down some of the gulf ports, like Mobile, Alabama

[TexasObserver]

35. Recommend. It's good news, except to those who hate good news.

[old mark]

42. Democratic pols should be talking this up for sure - we want to win in November, don't we?

Unless the plan is "moral victory through defeat" or some such thing....


mark

[TwilightGardener]

43. Yay!