CNN Reports Scary Economic Signs

CNNMoney reported scary economic signs based on a survey of 26 economists and the obvious feelings of New York protesters.

Was growth weak in May? It certainly was. Take a look at the ADP employment report which we link to every month. (Aside: We noticed that 2011 is reported by default, but not selectable on the long term data.)

The CNN story noted weak manufacturing results. In separate news, the Reshoring Initiative has been getting increasing attention. Many executive officers reward purchasing managers for shaving pennies off the cost of materials processing, but the same companies often incur additional expenses related to overseas operations that purchasing mangers are not measured on.