The U.S. manufacturing recession continued unabated, and in fact intensified in the third quarter, and is now part of a global downturn, according to the Manufacturers Alliance/MAPI Quarterly Industrial Outlook -Third Quarter 2008, a report that analyzes 27 major industries.
“There was a sudden and acute acceleration of the decline in the industrial sector in September and October,”said Daniel J. Meckstroth, chief economist for the Manufacturers Alliance/MAPI and author of the analysis. “The vicious circle of financial crisis, decline in wealth, consumer spending cuts, and job loss continues to spiral into a severe recession—certainly the worst since the early 1980s.”
On an annual basis, MAPI forecasts a decline in the …
MAPI Outlook: Manufacturing Recession ‘Intensifies’ in 3Q
The U.S. manufacturing recession continued unabated, and in fact intensified in the third quarter, and is now part of a global downturn, according to the Manufacturers Alliance/MAPI Quarterly Industrial Outlook -Third Quarter 2008, a report that analyzes 27 major industries.
“There was a sudden and acute acceleration of the decline in the industrial sector in September and October,”said Daniel J. Meckstroth, chief economist for the Manufacturers Alliance/MAPI and author of the analysis. “The vicious circle of financial crisis, decline in wealth, consumer spending cuts, and job loss continues to spiral into a severe recession—certainly the worst since the early 1980s.”
On an annual basis, MAPI forecasts a decline in the …
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