Joe Biden keeps claiming that he has brought America back from the pandemic. But the latest manufacturing numbers shows just the opposite. In fact, it has gotten worse.
The bad news comes from Biden’s own federal government, according to the Washington Free Beacon.
On Monday, the Institute for Supply Management’s manufacturing index reached its lowest point, 46.3, since May 2020, Reuters reported. Excluding the pandemic recession, the index, known as PMI, was at its lowest point since 2009.
PMI is a tool for identifying economic trends in the manufacturing and service sectors based on business conditions at hundreds of major companies. A PMI below 50 indicates decline.
Twenty-five percent of manufacturing gross domestic product had a PMI indicating decline in March, compared with 10 percent in February, according to ISM official Timothy Fiore.
Meanwhile, Biden has been scrambling around the country visiting businesses and claiming…. OK, not “claiming,” but out right lying… that he has brought America back to prosperity.
So, what is this measurement?
As noted, the PMI is a fairly straightforward measure of manufacturing health in the country. It’s set up on a scale of 1 to 100. A PMI higher than 50 indicates growth, while a measurement below 50 signals decline. This week the PMI hit 46.3. If you factor out the aberration of the government shutdowns in 2020, this is the lowest the PMI has been since 2009 at the tail end of the Great Recession.
Joe Biden’s America is a country in decline.