Democrat Policies Continue To DEVASTATE U.S. Manufacturing
(AmericanProsperity.com) – Just about anyone in the United States can tell you that prices are not what they used to be. Inflation has rocked the US economy, while the Biden administration does little to help. The problem has become so bad that many American companies are struggling to stay afloat.
Manufacturing activity slowed in the central U.S. while inflation pressures remained very high. https://t.co/PzM4vYNOGz
— Breitbart News (@BreitbartNews) May 27, 2022
Breitbart News reported on a survey Kansas City Federal Reserve Bank conducted, which found the economy has increasingly tanked each month since February. The report contradicts previous predictions that the country would see improvements by now. New York and Philadelphia have both reported similar trends.
Breitbart mentioned the problem is due to several reasons including a crippled labor market. Manufacturers reported that increased prices for materials, shipping, and production have forced them to pay more to manufacture their products.
Breitbart stated there was some good news, noting that “growth in supplier delivery time slowed,” which indicated there was some sort of improvement along the struggling supply chain. The report added that while backlogs increased, so did export orders and new orders.
Chad Wilkerson, an economist with the Kansas City Fed, asserted nearly three-quarters of all firms described a negative impact, declaring that the decline could last another six months or even longer. Will manufacturing in America bounce back after suffering for so long?
~Here’s to Your Prosperity!
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