Manufacturing Sputtering

(1) The big problem with productivity is in manufacturing, for a change. (2) Factories have produced more with fewer workers until this expansion. (3) Could it be that factories have reached “peak productivity” just as global demand stagnates? (4) Any more upside left in auto sales, housing starts, exports, and/or capital goods orders? (5) Manufacturing productivity proxy showing lowest five-year growth since start of data in early 1950s. (6) Purchasing managers didn’t have a great August. (7) Regional Fed business surveys confirm lackluster national manufacturing indicators.