The Institute for Supply Management released its current Report on Business for March 2015 on 4/1:
Economic activity in the manufacturing sector expanded in March for the 27th consecutive month and the overall economy grew for the 70th consecutive month, say the nation’s supply executives.”
The report was issued by Bradley J. Holcomb, CPSM, CPSD, Chair of the Institute for Supply Management Manufacturing Business Survey Committee.
The March PMI registered 51.5 percent, a decrease of 1.4 percentage points from February’s reading of 52.9 percent.”
The Federal Reserve Bank of Dallas released its Texas Manufacturing Outlook Survey for March:
Texas factory activity declined in March according to business executives responding to the survey. The production index, a key measure of state manufacturing conditions fell, posting its first negative reading in nearly two years. The new orders index pushed into negative territory and the growth rate of orders index remained negative for a fifth consecutive month, though it did rebound a bit in March . Both the shipments and capacity utilization indexes slipped to more negative readings. Perceptions of broader business conditions were rather pessimistic for a third month in a row.”
On Tuesday the Federal Reserve Bank of Chicago released its Midwest Economy Index (MEI)
The monthly index, designed to measure growth in non-farm business activity in the Seventh Federal Reserve District, serves as a regional counterpart to the Chicago Fed National Activity Index (CFNAI- the latest results were reported here last week. The CFNAI –MA3 is considered one of the best barometers we have of future business conditions.) And now…the MEI:
The Midwest Economy Index was unchanged at +0.49 in February. The relative MEI rose to +0.45 in February from +0.36 in January. February’s value indicates that Midwest economic growth was somewhat higher than would typically be suggested by the growth rate of the national economy.”
Also on Tuesday the Purchasing Managers Index (PMI or the Chicago Business Barometer) was released:
“The Chicago Business Barometer plunged 13.6 points to 45.8 in February, its lowest level since July of 2009 and the first time in contraction since April 2013. The sharp fall in business activity came as Production, New Orders, Order Backlogs and Employment all suffered double digit losses, leaving them below the 50 level which separates contraction from expansion.
The west coast port strike and the harsh winter probably had a negative impact in February, although it is difficult to gauge the magnitude. It’s too early to conclude that February represents a change in the relatively strong trend seen recently. Nonetheless the weakness in the Barometer points to softer GDP growth over the first quarter than previously expected.”
The March 31st deadline has passed and there is no nuclear deal with Iran.
What else can the president give away in order to achieve his legacy goal of crafting a nuclear deal with the lying, cheating terrorist state of Iran? From the Wall Street Journal’s Bret Stephens on 3/31-
A year ago in an interview Obama said of Iran: “They certainly don’t need a heavy water reactor at Arak in order to have a peaceful nuclear program. They don’t need some of the advanced centrifuges that they currently possess in order to have a limited, peaceful nuclear program.” Hardly more than year later here is where those promises stand: Fordo: “The United States is considering letting Tehran run hundreds of centrifuges at a once secret, fortified underground bunker in exchange for limits on centrifuge work and research and development at other sites.”
Arak: “Today, the six powers negotiating with Iran…want the reactor at Arak, still under construction, reconfigured to produce less plutonium, the other bomb fuel.”
Advanced centrifuges: “Iran is building about 3,000 advanced uranium-enrichment centrifuges…”
In September 2009 Mr. Obama warned Iran that it was “on notice” and that it would have to come clean on all of its nuclear secrets. Now the administration is prepared to let it slide.
Another thing the president said in an interview is that “any deal would involve extraordinary constraints and verification mechanisms and intrusive inspections.” Iran isn’t playing ball on this one either, saying the request hindered efforts to reach an agreement with the world powers.
It is widely known that “Iran is developing ballistic missiles whose only use is the delivery of nuclear warheads.” The interim agreement was silent on Iran’s production of ballistic missiles but it is vital because ballistic missiles are a central component of a robust nuclear arsenal. Except missiles are off the table too. Diplomats say “the topic of missiles has not been a part of formal discussions for weeks.”
Do you see what’s happening here? Mr. Obama seems so intent on signing a deal-ANY deal, that he is willing to ignore our allies in the area and around the world. The prospect of a nuclear arms race in the middle east becomes real and the likely results can and will be, horrific. There is no leadership here, only capitulation to a terrorist state. Is it remotely possible that our deal-makers are blind to the consequences of a nuclear armed Iran?
Oh, Those Clintons…
We were greeted with the news this Monday that Hillary Clinton took the liberty of erasing every email on her personal server. How is that possible when she and her server are under investigation by the federal government? Isn’t that evidence tampering? It most certainly must be illegal under some law in the United States. This just keeps getting better with the Clintons.
We are not working this Good Friday so the View is early this week.
Have a happy Easter and a good Passover….
Have a great weekend….
And God bless America!