As We Near The End Of The First Week Of Trading In September, At Least One Central Bank Is “Fearful Of Something”

Thursday, September 6, 2018
By Paul Martin
September 06, 2018

As near the end of the first week of trading in September, at least one central bank is “fearful of something.”

Slowdown In Global Trade
September 6 (King World News) – Here is a portion of what Peter Boockvar wrote today as the world awaits the next round of monetary madness: In today’s Challenger, Gray monthly release of job cuts, there was a pick up in those related to the tariffs but mostly offset, for now, a pick up related to them. They said:

“Last month saw an increase in companies attributing job cuts to tariffs, specifically tariffs on imported steel, which are ongoing, and newsprint, which have recently been overturned. Companies announced 521 job cuts due to these tariffs in August, for a total of 591 so far this year…While tariffs have been blamed for cuts, U.S. steel makers announced plans to hire 359 workers in August.”

As for the headline number of cuts, the announced plans were the most since March and were led by the Industrial Goods space with half the layoffs coming from Johnson Controls as part of a previously announced restructuring. Challenger said:

“Manufacturers are grappling with rising costs, weak demand, and competition on a global scale. We may see additional job cuts as the full ramifications of imposed tariffs are felt.”

The Rest…HERE

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