That’s the headline. As I have said, manufacturing in America is a thing of the past. Mfg continues to contract.
America’s business is business. As in Services not Products.
Stocks continue their run unabated. Let’s go!
The uptick in activity was largely driven by the services sector. The services component of S&P's report showed the index registered 57 this month, up from 55 in October and the highest level in 32 months. Meanwhile, the manufacturing sector remained in contraction with a reading of 48.8, up from 48.5, and the highest level in four months. Any reading above 50 for these indexes represents expansion in the sector; readings below 50 indicate contraction.
Quality manufacturing died in the 70s in the US. Best sheet is still made in Japan. Europe for some precision goods. China is all crap. Worse than the US.