US Manufacturing Reaches New Low as Biden Tours American Factories
On President Joe Biden’s “Investing in America” factory tour, a report shared that U.S. manufacturing has reached its lowest point since the beginning of the pandemic.
According to Reuters, on Monday the Institute for Supply Management released a report stating that the manufacturing index has reached 46.3, its lowest level since May 2020. Excluding the pandemic-based recession, the PMI was at the lowest point since 2009.
The PMI tool tracks economic trends in the manufacturing and service sectors based on conditions in major businesses. The figure is deemed to have declined at a PMI score lower than 50.
President Biden has initiated an “Investing in America” factory tour that visits factories all over the country promoting the administration’s vision for job creation and a clean energy economy.
The Biden administration aims to use taxpayer funds to construct a “clean energy economy.” However, the billions of dollars invested in green energy firms have caused criticism from opposition, as it has enriched left-wing billionaire megadonors of the Democratic Party and Chinese manufacturers that source materials for such firms.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
