Chicago Manuf growth slows - Employment index contracts

[swag]

Recovery rented from Walmart? Manufacturers still laying off customers? Another portent of Bush stagflation?

http://quote.bloomberg.com/apps/news?pid=10000006&sid=aYoDa_bAj648&refer=home

Excerpt:

March 31 (Bloomberg) -- Manufacturing in the Chicago area expanded at a slower pace in March and orders placed with U.S. factories increased less than expected in February, government and private reports showed, signs companies are trying to match production to a slower economic expansion.
. . .
The drop in the Chicago purchasing managers' index was the biggest since 6.2 points in March 2001. The production index declined for a second straight month to 59.1 from 73 last month, while the new orders index dropped this month to 60.4 from 67.5.

``This number isn't a total disaster. It still says that manufacturing activity is expanding. It's just expanding at a slower pace than the February numbers had shown,'' said William Quan, director of research and chief economist at Mizuho Securities USA Inc. in Hoboken, New Jersey.
. . .
The survey's employment index fell to 49.2 from 54.8 last month. The U.S. has shed about 1.7 million manufacturing jobs since an eight-month recession ended in November 2001, and the labor market has become a central issue in President George W. Bush's campaign for re-election in November.

[PROGRESSIVE1]

1. Oh too bad......this will SURELY hurt Bush's Re-"Election"......

chances.

Bush Stagflation indeed!

Oh well, Bush brought it apon himself!