Trump promised to bring back manufacturing and protect the steel industry. Instead, the manufacturing sector is in recession, and the steel industry was just downgraded to a negative outlook. Despite his empty promises, Trump’s reckless policies are failing working Americans.
The manufacturing sector is in recession, according to multiple measures, and is expected to further slow.
Wall Street Journal: “U.S. manufacturing is in recession, two-thirds of economic forecasters said in a survey, and overall growth in the second half of 2019 is expected to further slow. In a Wall Street Journal economic survey conducted in recent days, 65.3% of private-sector forecasters said the manufacturing sector was in recession, or two or more consecutive quarters of contraction.”
Los Angeles Times: “As measured by the Federal Reserve, manufacturing output shrank over two straight quarters this year. That’s the common definition of recession.”
Trump promised to protect the steel industry, but the industry is in decline and its outlook was just downgraded.
CNN: “The steady decline of America’s steel industry is continuing, despite President Donald Trump’s efforts to protect it through tariffs on imports. The latest sign came on Thursday, when Moody’s downgraded its outlook for the entire domestic industry to ‘negative’ from ‘stable.’ The credit rating agency cited slowing manufacturing overall and a continued decline in prices.”
