More Recession Signs Appear in U.S. Economy

June 24, 2019 (EIRNS)—A third Federal Reserve bank’s manufacturing index has plunged in June—this time that of the Dallas bank, which fell from +5.3 in April to -12.1 in June. Significantly, given President Donald Trump’s accomplished tariff aim of raising capacity utilization in the American steel industry, one respondent to the Dallas Bank stated, “Steel prices are dropping like a rock due to lack of demand and overcapacity.”

And the Cass Freight Index, which measures all modes of shipment combined, was 5.5% lower than a year before in May, then 6.5% lower than the previous year in June.