October 02, 2009
The Economist: The U.S. Manufacturing Slump.
In a continung recession, the Wolf will visit every house. See in yesterday's issue of The Economist "Wanted: New Customers". Excerpt:
Manufacturers were hammered in the recession of the early 2000s in large part because they were at the centre of the preceding boom in capital spending. They seemed far removed from the housing and finance bacchanalia that spurred the latest recession. Indeed, employment never recovered from its previous collapse. But much of America’s manufacturing output is destined for new homes and buildings, from bricks to bulldozers, and a lot also goes into cars. When sales of both collapsed, manufacturers were clobbered.
Posted by Rob Bodine at October 2, 2009 12:40 AM