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Breitbart: US Businesses Signal “Broad Stagnation”

  |   By Polling+ Staff

Stagflation word, economic crisis scenario text on increasing and decreasing money heaps, inflation during recession of economic

No kidding.

Breitbart headlines: https://www.breitbart.com/economy/2023/09/22/u-s-businesses-signal-broad-stagnation-at-summers-end-sp-surveys-show/

U.S. Businesses Signal ‘Broad Stagnation’ At Summer’s End, S&P surveys show

Breitbart reports this not-good-news news:

“The growth of the U.S. economy slowed for a second consecutive month in September, according to a pair of survey results released by S&P Global Friday.

The S&P flash composite output index, which is an early read of surveys of business executives in both the services and manufacturing sides of the economy, ticked down to 50.1 from 50.2 in August. This is the lowest reading in seven months. 

That puts the composite index fractionally above the threshold of 50 that separates expansion from contraction.

… Unfortunately, inflation remains persistent, thanks in part to rising fuel prices.

‘Hikes in wage bills, borrowing costs and material prices, with many panellists mentioning greater fuel expenses, drove up cost inflation in September. The overall rate of input price inflation quickened to the sharpest since June. The faster uptick was led by manufacturing firms where the pace of increase accelerated to the steepest since April as higher oil prices pushed up chemicals, plastics and transportation costs,’ S&P Global said.”

All of which is another way to say in longford the obvious: Bidenomics does not work. Trickle down government spending never does.