Services sector contracts in May amid tariffs cloud
Prices measure for services inputs hits 2-1/2-year high
Businesses operating warehouses say tariffs are raising costs
WASHINGTON, June 4 (Reuters) - The U.S. services sector contracted for the first time in nearly a year in May while businesses paid higher prices for inputs, a reminder that the economy remains in danger of experiencing a period of very slow growth and high inflation.
The survey from the Institute for Supply Management (ISM) on Wednesday showed uncertainty was the dominant theme among businesses as they tried to navigate President Donald Trump's constantly shifting trade policy.
LONG READ, BUT IF U DOUBT THERE WILL NOT BE REPERCUSSIONS UPCOMING......THIS IS FROM A CREDIBLE NEWS SOURCE AND
NOT SOME BULLSHIT LOYALIST FROM THE CZAR. OF COURSE....WAIT AND WATCH.....
Yet stocks remain at historic highs despite higher interest rates. As an economist, I am frankly puzzled why this is happening.
Since the election media and Democrats have allied to tell you Trump's tariffs will destroy the economy, it just isn't happening. Restaurants are full, prices and inflation remain high.
Thomas Sowell: There are no solutions, just trade-offs.
FredHayek wrote: Yet stocks remain at historic highs despite higher interest rates. As an economist, I am frankly puzzled why this is happening.
Since the election media and Democrats have allied to tell you Trump's tariffs will destroy the economy, it just isn't happening. Restaurants are full, prices and inflation remain high.
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FOR RICK......FOR YOUR CONSIDERATION......AS i STATED, WAIT AND WATCH
Most establishments now spend 50% to 60% of their revenue on staffing costs alone. These numbers tell the story behind recent menu price adjustments across the restaurant industry.
stat about staffing costs
Impact of labor costs on menu pricing
Staff expenses create the biggest challenge for restaurants today. The industry currently needs 200,000 more workers to meet growing customer demand, pushing wages higher across all positions.
We keep breaking sales records and I’m now creating the first drive through (and online ordering) this mountain has ever seen. Many other small businesses are doing well up here. The business owners I talk to are very confident about this country’s economic outlook… we finally got rid of the morons who don’t understand how business works.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
THE BIG UNKNOWN.....IS HOW THIS IS GOING TO ROLL OUT IN MONTHS TO COME....WE R JUST NOW ENTERING THE TARIFF ZONE ARENA.....LOOKS GOOD NOW, BUT IN 6 MONTHS WHEN THE TARIFFS R IN FULL EFFECT. HOW WILL IT LOOK? THE WISE PERSON WILL LOOK FAR AHEAD AND RESEARCH THE FINANCIAL PICTURE.....IT IS NOT CLEAR TO ANYONE, AND CAUTION IS ALWAYS ADVISED WHEN THERE IS NO FULL UNDERSTANDING OF RAMIFICATIONS AND FALLOUT TO A RAPID AND RIGOROUS THREAT......(recanting,revising,re considering,retaliation,is ALWAYS an alternative to the scenario) ....WAIT AND WATCH
Wall Street experts are risking trillions in the market every day. If they were scared, they would be dumping stocks.
Stock values are based on future earnings. Their crystal ball is definitely hazy, we haven't seen such massive tariffs since the 1930's. And they are likely even more huge in impact these days because so much more of what we buy is created overseas.
In the 30's, you can imagine 80% or more of what you consumed was produced domestically.
Thomas Sowell: There are no solutions, just trade-offs.
i THINK GREENSPAN SAID IT BEST...( BELIEVE IT WAS HIM).....IRRATIONAL EXUBERANT.....FROM WHAT i HAVE READ.....ALL THE NORMAL FUTURE INDICATORS R ERRATIC AND ABNORMAL...
WE R IN UNCHARTED TERRITORY......UNICORN UNIVERSE SEE ALL RAINBOWS, THE REMAINING R UNCERTAIN.....WAIT AND WATCH .
This is the same "Wait & Watch" that predicted we'd be in a recession by now, yes? The same "Wait & Watch" that failed to predict a federal revenue surplus for the first time since the Clinton era because of all of the tariffs, or the record revenue receipts (over $150 Billion to date, perhaps $300 Billion this year), yes? Record trade deals, which are all better for our economy than what we had, record investment in domestic industry, real wages rising over 2% in the last 5 months, numbers not seen for 6 decades, all contrary to the "Wait & Watch" predictions from earlier this year, right?
How long are we going to have to "Wait & Watch"? Until the next time the Democrats hold sway in the halls of DC?
How many times were we told to "wait and watch" Trump get taken out by the deep state, or a leftist judge, or a leftist DA? She never comes back after the waiting is over and the prediction falls flat as a pancake. She still believes in her experts that never seem to get anything right.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.