{"id":1006433,"date":"2019-09-25T18:03:33","date_gmt":"2019-09-25T18:03:33","guid":{"rendered":"https:\/\/democrats.org\/?p=1006433"},"modified":"2019-09-25T18:03:33","modified_gmt":"2019-09-25T18:03:33","slug":"americans-lose-confidence-in-the-economy-as-trump-fails-to-bring-back-manufacturing-or-create-jobs","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/americans-lose-confidence-in-the-economy-as-trump-fails-to-bring-back-manufacturing-or-create-jobs\/","title":{"rendered":"Americans Lose Confidence In The Economy As Trump Fails To Bring Back Manufacturing Or Create Jobs"},"content":{"rendered":"

\"\"<\/p>\n

Trump promised to bring back manufacturing and create jobs — but he hasn\u2019t. Instead, his erratic policies have only hurt the manufacturing sector and cost jobs, and now Americans are losing confidence in Trump\u2019s economy.<\/p>\n

CONSUMER CONFIDENCE IN THE ECONOMY PLUNGED by the most in nine months in September.<\/p>\n

Reuters<\/a>: \u201cU.S. consumer confidence fell by the most in nine months in September, far more than expected, as Americans\u2019 economic outlooks darkened in the face of the U.S.-China trade war, according to a private sector report released on Tuesday.\u201d<\/p>\n

TRUMP\u2019S ERRATIC POLICIES HAVE HURT THE MANUFACTURING SECTOR AND COST JOBS: Trump\u2019s policies have cost manufacturing jobs and pushed the sector into a recession that threatens the broader economy.<\/p>\n

Associated Press<\/a>: \u201cAugust\u2019s weak manufacturing data is just the latest signal of a slowing economy. U.S. manufacturers also cut jobs last month, and business spending is falling\u2026 Meanwhile the Labor Department said manufacturing productivity suffered its worst performance in the second quarter since mid-2017. Taken together the data points to lagging demand that could eventually drag down consumer spending.\u201d<\/p>\n

Washington Post<\/a>: \u201cPresident Trump is counting on a strong economy to propel him to reelection in 2020, but his signature issue now looks dicey. The economy is slowing down. Manufacturing is in a recession, bankruptcies are rising in farm country and the trade war is starting to bite businesses and consumers.\u201d<\/p>\n

TRUMP HAS FAILED TO REVIVE THE STEEL INDUSTRY AS HE PROMISED: U.S. steel companies were forced to lower their financial outlooks due to falling steel prices and lack of demand.<\/p>\n

Bloomberg<\/a>: \u201cSince the Trump administration announced tariffs last year, domestic steelmakers\u2019 shares have slumped, partly on concern that trade tensions with China threatened global economic growth and demand for steel. Now, there\u2019s evidence that those fears are being borne out, with U.S. Steel Corp., Nucor Corp. and Steel Dynamics Inc. all issuing warnings this week about third-quarter profits.\u201d<\/p>\n

CNN<\/a>: \u201cUS Steel’s stock dropped 12.5% on Thursday after it lowered its financial outlook for the second half of the year, citing falling steel prices and a lack of demand. It’s the latest drop in a steady decline of the company’s share price \u2014 it is down more than 60% from a year ago \u2014 as President Donald Trump’s promises to revive the industry have failed to materialize.\u201d<\/p>\n

FACTORIES ACROSS THE COUNTRY CONTINUE TO SLOW: Regional manufacturing data shows factory activity continuing to slow and even contract across Pennsylvania, New York, and the mid-Atlantic.<\/p>\n

MarketWatch<\/a>: \u201cThe Philadelphia Federal Reserve\u2019s manufacturing index fell to 12.0 in September after registering a reading of 16.8 in August\u201d<\/p>\n

Bloomberg<\/a>: \u201cA Federal Reserve measure of manufacturing in New York state cooled more than expected in September as capital-spending expectations fell to the lowest since 2016, adding to signs the U.S. factory slump is deepening.\u00a0 The Empire State index, a survey of factories the state, fell to 2 from 4.8 as readings for new orders and shipments deteriorated, according to New York Fed data released Monday.\u201d<\/p>\n

Dow Jones<\/a>: \u201cManufacturing activity across mid-Atlantic states softened in September, according to a report from the Federal Reserve Bank of Richmond, as indexes for shipments and the volume of new orders fell. The Federal Reserve Bank of Richmond said the composite manufacturing index fell to negative 9 in September from 1 in August.\u201d<\/p>\n

BUSINESS INVESTMENT AND EXPORTS TRUMP PROMISED TO BOOST ARE DOWN: In cutting interest rates last week, the Federal Reserve pointed to weakening business investment and exports — precisely the things Trump claimed his tax cut and trade policies would boost.<\/p>\n

Wall Street Journal<\/a>: \u201cAs in July, the Fed attributed its decision to lower rates by a quarter of a percentage point to \u2018implications of global developments for the economic outlook as well as muted inflation pressures.\u2019\u00a0 At the margin, however, the Fed changed its characterization of recent economic conditions, noting that \u2018business fixed investment and exports have weakened.\u2019\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Trump promised to bring back manufacturing and create jobs — but he hasn\u2019t. Instead, his erratic policies have only hurt the manufacturing sector and cost jobs, and now Americans are losing confidence in Trump\u2019s economy. CONSUMER CONFIDENCE IN THE ECONOMY PLUNGED by the most in nine months in September. Reuters: \u201cU.S. consumer confidence fell by […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1006433","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nAmericans Lose Confidence In The Economy As Trump Fails To Bring Back Manufacturing Or Create Jobs - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/americans-lose-confidence-in-the-economy-as-trump-fails-to-bring-back-manufacturing-or-create-jobs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-25T18:03:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2019\/08\/War-Room.png?w=300\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/americans-lose-confidence-in-the-economy-as-trump-fails-to-bring-back-manufacturing-or-create-jobs\/\",\"url\":\"https:\/\/democrats.org\/news\/americans-lose-confidence-in-the-economy-as-trump-fails-to-bring-back-manufacturing-or-create-jobs\/\",\"name\":\"Americans Lose Confidence In The Economy As Trump Fails To Bring Back Manufacturing Or Create Jobs - 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