It's Totally Unexpected That Manufacturing Tumbled Unexpectedly
Courtesy of Jr. Deputy Accountant
OMG you guys, I totally didn't see this coming!! How did this happen?! Next you're going to tell me unemployment is up too!
U.S. stocks added to Tuesday losses after a gauge of U.S. manufacturing unexpectedly showed contraction in August. The Dow Jones Industrial Average fell 69.50 points, or 0.5%, to 13,021.34. The S&P 500 index shed 6.29 points, or 0.5%, to 1,400.29. The Nasdaq Composite declined 12.16 points, or 0.4%, to 3,054.80.
It's so unexpected that even when it happens two months in a row it's unexpected!
Anyone else get the feeling we should get some better economists who might be able to spot this stuff coming from a mile away?
