The Prism Daily ~ Mon, Jul 02 2012
Your ‘One-A-Day’ financial news-tritional supplement, including trace elements of information and analysis that every healthy investor needs. Specially formulated to address a wide variety of financial ailments. From the Desks of David Taylor and Gordon Philips, Directors of Prism Solutions and publishers of the weekly Prism Letter (past issues archived here)
Today’s Daily Dose
U.S. Manufacturing Contracts For First Time Since 2009
CNN Reports: “U.S. manufacturing slowed sharply in June to a level that indicates the sector is now contracting, marking the end of almost three years of growth in domestic manufacturing… The report is a worrying sign for the economy. Manufacturing had been something of a bright spot during the recovery… Investors reacted negatively to the new manufacturing numbers, and all three major indexes dropped sharply in the minutes after the report’s release.”
Prism Counters: “Our automated investing software moved up in June, marking nearly a year of consistent growth, a pleasing sign for the economies of our clients.”
Prism Comments: An economy with crushing unemployment, a still-sagging real estate market and declining manufacturing is not a recovering economy. One can still hope, but this is not the change we need. The question remains, where is the bottom? Try as we might, our research department can’t find the bottom even with a flashlight.
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