Thursday, October 9, 2014

Economy Sinking Again

Just because more people have dropped out of the labor force, the Obama Administration is crowing that unemployment is down. There is good reason to believe that the Administration is deliberately falsifying the numbers. (See also here). However, even without delving into whether unemployment is shrinking, we have other figures which show that the economy is worsening--namely, the measure of wholesale stockpiles mentioned in the first article cited earlier. (See also this article from Fox Business News). From the Fox article:
The Commerce Department says wholesale inventories rose 0.7 percent after a 0.3 percent increase in July. Sales fell 0.7 percent, the biggest decline since a 1.8 percent drop in January. 
The figures indicate that inventories rose partly because sales slowed more than wholesalers anticipated. That suggests they may cut back their orders in the coming months. Computer sales fell 1.7 percent and lumber sales dropped 0.9 percent. Wholesale auto sales also fell. 
Stockpiles rose in many of the same categories: computer inventories jumped 4.5 percent, and lumber supplies rose 1.5 percent.
(H/t Instapundit)

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