Remember all the talk of a new manufacturing revolution in the country? Well, The Hill throws cold water on that prediction:
The index showed factory activity contracted to 49.5, after two months of modest expansion, the lowest level since July 2009, the Institute for Supply Management’s survey showed Monday.
The index rose to 51.7 in October.
The sector contracted in three months from June through August.
There will be no manufacturing revolution in this country until we reduce taxes, end our regulatory regime, and reform our tort and judicial review laws.