'Trump is pushing manufacturing toward a recession,' writes TimMullaney
Of all the economic factors that would quash President Donald Trump’s re-election campaign, a recession, and especially a recession in manufacturing, would be near the top of the list. Friday’s jobs report suggests that a manufacturing recession isn’t here yet, but it’s uncomfortably close.
Machinery and primary metals that depend on trade actually showed about 5,000 combined job losses for the month, and have basically not grown in the past year. But the car-industry gains, accompanied by strong General Motors GM, -0.92% profits, wiped them out — because consumer spending is still high, even as business investment wobbles as Trump makes his intermittent, spastic announcements about the latest tactics in trade talks.
“The economic trajectory of politically important ‘flipped’ counties, which generally experienced a weak recovery prior to the 2016 election, did not meaningfully change during the first two years of the Trump administration,” the report said.
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