US Manufacturing Shrunk in June

There is a good reason that the Obama campaignadministration is not talking about “recovery summer” this year. There is no recovery, and the US economy might even be headed for another recession. According to the Institute for Supply Management, US manufacturing shrunk in June, the first such shrinkage in two years.

If President Obama and the Democrats’ goal is to make the United States more like Europe, the statistics suggest that they are well on their way but still have some catching up to do: The Euro zone’s manufacturing also contracted in June.