The ISM manufacturing survey was released today showing exceptional economic news on the manufacturing front. New orders for manufactured goods jumped to their highest level in 17 years and were 3.4 percent higher than pre-pandemic levels. That data matches our earlier ground reports from across the nation.
The manufacturing sector inventories are low, that means this cycle of replenishment will continue for some time. Orders for customer goods continues to drive expansion, investment and operational increases in productivity. That customer demand drives the need for increased hiring in manufacturing…. that demand drives wages… and so the middle-class is again on track for a fantastic rebound. That’s MAGAnomics.
WASHINGTON (Reuters) – U.S. manufacturing activity accelerated more than expected in October, with new orders jumping to their highest level in nearly 17 years amid a shift in spending toward goods like motor vehicles and food as the COVID-19 pandemic drags on.
However, the media once again cannot bring themselves to cheer on a stunning economic recovery. Instead take a look at how Reuters frames their narrative:
Essentially: …”things are much better than we ever expected they could be…. but we still swear they will suck, sometime.” The manipulative spin by a disgruntled U.S. media is really ridiculous at this point.
{…] “The outcome of Tuesday’s vote is expected to lead to a brief period of uncertainty. President Donald Trump is trailing former Vice President and Democratic Party candidate, Joe Biden, in national opinion polls.” (read more)
They just cannot bring themselves to admit how President Trump’s “America First” economic policies are benefiting the U.S. working middle-class. Insufferable.
From the ISM survey:
“Among the six biggest manufacturing industries, five (Fabricated Metal Products; Food, Beverage & Tobacco Products; Chemical Products; Computer & Electronic Products; and Transportation Equipment) registered strong growth.
“Manufacturing performed well for the third straight month, with demand, consumption and inputs registering growth indicative of a normal expansion cycle. While certain industry sectors are experiencing difficulties that will continue in the near term, the overall manufacturing community continues to exceed expectations.”
What I see is the data finally catching up to what was visible in the past three months:
The 3rd quarter rebound in GDP growth was 33.1 percent, larger than the 2nd quarter contraction of 31.4 percent. And keep in mind this is with a major part of the U.S. leisure and hospitality sector remaining severely impacted. [See Table 3, Line 20]
All of these economic indicators highlight the visible reality on the ground. Despite the ongoing challenges there is good news for the most heavily impacted sectors of the economy: leisure and hospitality. Well over half of those jobs lost have been recovered. In the past four months 3.6 million jobs have been gained in this sector. Employment in food services and drinking places is still down by down by 2.5 million since the peak in February but the gain is significant and reflects a “V-shaped” recovery ongoing.
All sectors of the economy are gaining jobs back at a remarkable rate; and the key demographics are benefiting in proportion to the initial COVID-19 impact. [BLS Report HERE] With the expiration of the “extra” federal unemployment benefits at the end of July/August, the negative incentive has been removed; more people are stepping back into the workforce.
A September 2020 comparison to September 2019 [LINK HERE] – [PDF HERE] shows last month’s retail sales jumped a whopping 5.4 percent year-over-year. That means last month saw consumer spending 5.4% higher than consumer spending before COVID-19 hit the U.S. economy. Keep in mind two-thirds of U.S. GDP is driven by retail sales and consumer spending.
As many of you know I have been traveling extensively throughout the country. During these travels I make a point to visit sector-specific businesses to inquire about their economic and business growth status.
The disconnect amid a ground reality compared to business reporting and financial media is actually stunning. However, perhaps that is because my physical ‘on-the-ground’ inquires and reports are ahead of the natural lag in the economic data rolling up to the accounting level. Here’s what I can tell you with absolute certainty.
The amount of heavy equipment, industrial equipment, hardware and goods being moved around the country is more than I have ever witnessed or seen in decades of travel. The mid-west, mid-atlantic, southeast, and more specifically the south in general, has more haulers and semi-trucks on the road than I have ever witnessed…. ever…. by a substantial margin. The same is true for rail freight and cargo vessels.
Regardless of what financial pundits and economic media might be saying, the underlying economic activity in the U.S. right now is explosive and moving at a much more rapid pace than before the COVID crisis [statistically confirmed today]. Regionally, business owners and operators all report the same thing, and the same need for a larger workforce. All of them are hiring; however, some sector specifics and regional specifics are much more intense.
Incredible! Trump has some kind of magic wand or something…
That something is called blessing, divine blessing if you will. Trump is not ashamed to call on God in public I might add and God is not ashamed to bless his efforts, IMHO of course.
Just like Camelot. When the King is blooming, so does the land, crops and people.
Sorta throws a monkey wrench in the commie global reset 2021, tho.
#sorrynotsorry
Every peaceful protest is opened with “God Bless The USA.” That statement is a prayer.
Indeed it is. A welcome fulsome prayer.
Right On!!
I live near Charlotte, NC, Our Governor has literally tried to destroy our economy.
Well in the service industry, he is succeeding. The rest of the economy never stopped growing. We have a housing shortage, and builders haven’t missed a day since the lockdown. Every man and woman I know in brick and mortar are swamped. The Restaurants, bars, hotels and those business being limited over WooHan lies will be voting for the President, ‘and’ Congress and local politicians that feel their pain.
Tomorrow will be Reagan in 1984, Nixon in 1972, and even GW Bush in 04′.
All 2nd term Republicans, with one huge difference.
President Trump will have the best 2nd term in history.
Two thumbs up obobway..two thumbs up!!
Two thumbs up obobway..two thumbs up!!
Two thumbs up obobway..two thumbs up!!
Two thumbs up obobway..two thumbs up!!
Two thumbs up obobway..two thumbs up!!
The Left does NOT want America to succeed and prosper. They are our existential enemies and must be stopped.
They must be destroyed.
Via the MAGA votes.
We start tomorrow.
Vote people !
The corrupt Biden and his family must be beaten and then prosecuted. They are losers and represent the worst of American values.
Trump loves America…MAGA
The corrupt Biden and his family must be beaten and then prosecuted. They are losers and represent the worst of American values.
Trump loves America…MAGA
The Left needs America to fail so they can quickly and easily implement the New World Order/Government, if Biden is elected. This Global Elitists Dictatorship will destroy our freedoms and lives! Look what has happened to Hong Kong. You are correct Elric VIII: “They are our existential enemies and must be stopped”.
That’s exactly right. The ENEmedia are frauds, cheering on the demise of our country, even as they live off the fat of it.
Their insufferable snobbery and unearned conceit make them useful idiots, indeed. They, and their Hollyweird and academia sycophants, will be the first to go down when their totalitarian “benefactors” snuff out the free world.
Too bad we don’t have a real DoJ, SEC or FTC to reel in the human garbage purposely whipsawing the market for political gain. More proof the puppet masters are not using economic fundamentals.
Trump supporters went to Barr’s home this last weekend & he came outside & chatted w/them. The article said he explained the role of the Dept. Of Justice. But I don’t know what he said to them.
I wonder when he’s going to decide the election is over & start indicting people participating in the coup or the corrupt Biden family.
Unless you are doing a smurf imitation, I wouldn’t hold my breath! 🙂
MAGAnomics innoculated the U.S., against the economic weopon of China virus.
So YES, we took a ‘hit’, but our economy is rapidly getting back on its feet, and regaining its former pace. We “shook it off”, and our former pace was running on 12 cylynders, with nitro boost.
And inventories are LOW, which means we are just at the start of a long climb, as manufactureres have to refill those inventories, and it takes time.
In addition, I seem to recall Sundance saying many of the new manufacturing plants wouldn’t be coming on line, until,….sonofagun, right about NOW.
Next year IS going to be the greatest year in our history, financially. And there is no reason to think its going to stop, there.
Economic Security IS National Security, and the CHINA virus just confirmed it, because while technically it was a bio-weopon, it was deployed as an ECONOMIC weopon.
As Ive stated in the past, I am a concrete contractor of mostly new residential in SE Lower Michigan.
I am friendly with almost all of the contractors for 7 different builders in 12 different subdivisions and 4 condo/townhouse developments. I get a good look at inventories by how quickly things like drywall, shingles, appliances, brick, lumber, windows, ac units, furnaces, copper wiring and siding are delivered.
While everything is a bit slow, manufactured items like furnaces, ac units and appliances need to be ordered a couple months in advance if you want timely installation. Lumber and brick seem fine. Shingles and drywall are slower.
Concrete is a pita, not because there are shortages of cement, sand or aggregate but because the amount of concrete being used has left a severe shortage of trucks and drivers for delivery to the job site.
I place about 1200 cubic yards of concrete in an average month. At about 120/yard I have a sizable bill. I am the number 1 contractor for my main supplier and usually I could call at any time of the day and have concrete delivered within the hour. They would run 10 or 12 trucks a day for me.
Right now I am lucky to get 3 trucks at 7 am and a couple more around 1230 pm. I now have to call several different suppliers to get my normal yardage.
I was about 10 years in business when the dotcom boom created a housing boom. Until this year that was the highwater mark for new residential in my area. This is an order of magnitude higher.
I started a construction project in May. I work on it as I have time. A few weeks ago I needed treated lumber. I called 4 lumberyards in town, and a few within 50 miles of town. Nobody had what I needed. All could order and it would take about a week to get. I finally got what I needed for half the project, then worked on other parts of it before I needed treated lumber again.
Again, weeks later, I am running into the same problem. Nobody has it. I was told when the lockdown began, people got bored quickly and started doing home projects.
Nowhere near the scale you are doing, and I am sure you have a much better handle on supply and demand. Just an anecdote from my part of the woods.
This economy is taking off like a rocket and people vote based on their finances.
There is only one path for America to achieve across the board prosperity – the re-election of the President. Biden’s leftist agenda would destroy that economy.
Get out and vote for the President in overwhelming numbers to crush the left’s fraudulent voting schemes!
Thank you President Trump!
A couple of more days then it’s back to business at The White House.
~~~~~~~~~~~ TRUMP the VOTE ~~~~~~~~~~~
My daddy loved Sousa music. Thanks for posting! Brings back some great memories
So did mine…and every time Memorial DayJuly 4th/Flag Day/Veterans Day…Our local channel had this music on!!! SMALL TOWN IN TEXAS!!!
I set next to his granddaughter on a flight into Boston where she was going in for an interview and audition at Hanscom AFB for the AF Band of Liberty some years back. She was very modest and wasn’t going to mention it to them. I told her she had to and she would get the job.
One night in Acton MA, also years ago, at a local now-defunct music venue called the Acton Jazz Cafe, at the weekly blues jam, a quartet of horns from Hanscom, which is nearby, showed up and played. I wouldn’t be surprised if they were from the same band you mention. A trumpet player friend of mine (who is a MAGA guy and not shy!) gathered them at one side and coordinated them as a horn section during my vocal set and others. I had about 10 incredible players in all backing my vocals, because most everyone who played there was good. It was an amazing night!
This is another Pile Driver onto the Globalist Deep State Cabal and JoeBKHarris!! FIRE IN THE HOLE!!!
U.C.- people dont like being told how racist, horrble, selfish, greedy, nazi like, earth hating, deplorables they are. That’s Tickle Me Joe’s and Kumalas message. President Trump’s message is the opposite. Consumers and businesses respond always on the positive side. Anyone that lived through the “Jimmy Carter years of malaise” remembers how we had to ignore that ass and created our own prosperity. Wasn’t easy. Working 18 hour days burns into your soul and you dont forget who’s responsible.Same during Oboears reign. Now we have a President that makes it easy to prosper. I sure don’t want to go back to those hard years.
…jimmuh cahtuh….what a HORRIBLE president…..so many of that man’s policies caused so much of the issues we face today….horrible horrible man….he hoodwinked the world with his awe shucks schtick….
Many call him a ‘good man’…..he isn’t….
Anywhere its posted on the web says its a “nearly 2 year high but but but..” Not 17 year high
Burlington Northern train through Edmond, OK this morning.
Several cars with Weyerhaeuser and Georgia Pacific lumber. New construction is strong here.
Also have noticed trains delivering aggregate for concrete plants. Lots of mixers/delivery trucks on the roads as well.
MAGA!!
America loves its free market economy!!! We loathe communism and tyrany!!!
When someone asks why I’m voting for President Trump.
I put some base in my voice with some growl and say “MAGAnomics” It has always opened the conversation to further explanation. It solidifies a MAGA person or brings in a new recruit.
Big Thanks to Sundance of laying down the foundation in simple terms for sharing with others. .
Mickey, well said!
How you like that magic wand, globalist scum?
Yes, President Tump has failed the left on Covid. He has failed to bring this nation and the world into an economic depression. Sucks for them, I guess they’ll need to go out and get a job through hard work.
The “media” get away with badmouthing President Trump and disparaging American economic progress because the signs of the staggering economic ferment are invisible to average citizens. Of course the media should be informing their audiences about these developments, but they don’t for all the reasons so well known to us.
In the long run the facts eventually overtake the “resistance” to sharing information. The attempt to manipulate popular opinion inevitably collides with reality. Much like the run up to the election, media lies and misdirection catch up to them, and obvious to everyone come to nothing at all.
I design and create jewelry, exhibiting at outdoor art festivals in the southeast. Heading to Ocean Springs Mississippi this weekend, Estero, FL next weekend. I’ve had just 2 events since March.
Us street artists have taken a beating, even in business loving Florida.
These economic numbers are incredible. I’m praying some of this good news lifts our boats too.
If there’s a show in your area, please go.
I also am an artist doing street fairs and festivals in Arizona. Our market has picked up and we are doing well. People are coming out and spending.
I have an investment vehicle in which I have to predetermine my investments for the next 12 months.
Assuming PDJT wins, what are your thoughts on the markets? Will Wall Street begin to lose in the next 12 months as main street recovers? Or will the s&p stocks be relatively safe?
What if Biden wins?
People claiming DOW jump today is due to Biden possible win. It may more likely be due to Trumps recent gains.
I work in finance – if Trump wins the market will take off and the economy will continue to grow
I work in the investment industry and I would suggest that with Trumnp’s victory today and the Fed’s flooding of the markets with liquidity and easy money, the market is going to take off like a rocket for the next couple of years.
thanks
I sell construction supplies in New England and my sales are up 40% over last year. My customers see no end in sight irregardless of winter weather. All housing is way up.
The plywood sales must be off the chart! ?
The price certainly is. I am glad we got our house built near the beginning of the housing boom.
And most every low info democrat voter will be kept ignorant of this as well.
Biden is taking the low info voters for a ride:
Honestly, if the fake noose industry (ain’t calling them the mainstream media) cannot be depended upon to report info that people NEED to know, how do we move them off to the side of the road so that responsible reporting can happen? Honestly, if XiNN (for example) cannot (won’t) do actual reporting, they are no better and or credible than that paper rag the Star you see at the checkout lines. Deregulate them and get them off the air and out of the airports etc. They aren’t news and they are a worse curse than the chinese flu. How do we make this happen?
The Democrats at this point are really communists. They just hide behind the donkey. So what do world wide communists hate? One of the big ones is capitalism. So they don’t care if the economy is good. If all their agenda is going where they want it they could care less. The commies also don’t like the middle class. So if anything they are glad when middle class jobs disappear. So it explains so much of the behavior of the present day Democratic Party. Which is why Obama said manufacturing jobs were not coming back. He didn’t 2ant them to come back.
I think we are all tired of dealing with these America hating commies
And that is why he did nothing for the Black community. If he did, he would have lifted them into the middle class and you know that is something they didn’t want.
The MAGAnomics info Sundance reports and puts into context here dovetails nicely with a “30,000 foot” view of what PDJT has accomplished and why his re-election is essential. All laid out beautifully by Victor Davis Hanson on American Greatness. “Donald Trump, Counterrevolutionary” An excellent read; highly recommended.
https://amgreatness.com/2020/11/01/donald-trump-counterrevolutionary/
Great article. I read it first thing this morning. I love starting the day with a VDH article.
Magic wand? Nope, just proof that the brown clown had absolutely no interest in American workers. You know those deplorables that cling to their guns and Bibles.
Confidence in the economy is just as important as the settings of the economy, if not more important.
You can have the best settings, but if the human beings involved in that economy have no confidence in the future, they will tighten up, which stifles growth, which reduces what confidence is left and so on and so on into a self feeding downward spiral.
I think if DJT wins (he will) that confidence will sky rocket. Not just in the US either.
The US will suck up much of the Worlds investment capital.
If Biden wins, that confidence will immediately shrink. Most everyone will tighten up and the US will go into a recession by Christmas 2021 IMHO.
… winning bigly … PDJT just wins bigly in stride … take a new Trump voter to the poll with you tomorrow … let’s double his vote tally of 2016 … from 63 million up to 126 million … pedal to the metal
Just watched Tuckers opening a must see as it is how middle America feels.
“THE MAN” in the moon pic is awesome!!
Biden will do ‘better’ on the economy??? What a joke. He will raise taxes, more regulations to kill more businesses, especially smaller to mid size ones, and put a tofufurkey in every pot powered by wind, solar energy and Portland BLM and ANTIFA scum riding stationary bikes for extra power. Yeah right. Vote! I already have but I am assisting other voters who are elderly and shut ins get their votes to the drop off boxes tomorrow. I personally hate vote by mail. They are ALL Trump votes.
The gaslighting is turned up to an 11 or 12 out of 10 on Twitter. I look at Sundance’s tweets and can’t help but notice the “trending” section. In the last couple of hours they have added one about how the economy is NOT dramatically better than it was 4 years ago according to 3 ultra liberal papers. I guess we are all imagining our 401ks going up, our wages increasing, our taxes being down, all the people buying homes, all the homes being built, all the new jobs….yep, all of it.