Ever feel like there are mixed messages coming from Experts who supposedly know which way the wind is blowing economically? Seems like during this political season, we can get the most upbeat message or the most dour depending on the party of your choice. But politics aside, the economic guru organizations should pretty much sing a consistent song, right?
Not exactly. From May 31st, the Manufacturing Alliance for Productivity and Innovation (MAPI) was full of good news on the manufacturing front:
MAPI Economic Forecast: Moderate but Sustainable Growth Path, Jobs Increase for Manufacturing
“Robust spending on goods in the first quarter of 2012, spurred primarily by pent-up demand to purchase items previously postponed by both consumers and businesses, is enabling manufacturing to continue leading the U.S. economic recovery.”
AND yet not more than three weeks later, on June 21 (this is less than two paychecks in some cases):
Slowing Growth in Manufacturing
(http://www.mapi.net/blog/2012/06/slowing-growth-manufacturing)
“The latest economic update of the manufacturing sector shows growth slowing from a relatively strong pace just a few months ago. In March, manufacturing production fell by 0.6 percent. It rebounded in April, growing by 0.7 percent, but declined again in May when it fell by 0.4 percent. In the fourth quarter of 2011, manufacturing production grew by an annual rate of 5.6 percent. In the first quarter of 2012, the production grew by an annualized rate of 9.8 percent. Given that real GDP grew by just 1.9 percent in the first quarter of 2012, the strong growth of manufacturing activity in the first quarter could not be sustained. Manufacturing capacity utilization was 77.6 percent in May 2012—just 8 tenths of a percentage point off the December 2007 pre-recession level. Capacity utilization is currently less than one percentage point below its long term average.”
So, which is it???