Trump repeatedly cited manufacturing activity, manufacturing confidence, consumer confidence, and the stock market to claim that the economy was the strongest in history. All of those indicators have suffered major recent declines.
THEN: Trump claimed the U.S. was in a “manufacturing renaissance.”
Trump: “We are in the midst of a manufacturing renaissance—something which nobody thought you’d hear—which means more jobs for our great electrical contractors.”
NOW: A key manufacturing index tumbled by the largest amount in a decade.
Bloomberg: “A gauge of U.S. manufacturing plunged last month by the most since October 2008, a fresh sign of deceleration in the economy amid global strains across the sector. U.S. stocks extended declines and Treasury yields fell after the report. The Institute for Supply Management index dropped to a two-year low of 54.1, missing all estimates in Bloomberg’s survey, data showed Thursday.” Continue reading “Economic Indicators Trump Cited To Show A Strong Economy Now In Decline”