What do you expect the country to learn from Romney's tax returns ?
That he made money ? That the firm assigned to watch over his trust invested wisely and the trust made money ? That the trust invested in vehicles outside the USA ?
So what. Romney and his family are wealthy.
All diversions from the economic reality that under Obama the economy is sliding towards negative growth.
Firms Continue to Report Weak Business ConditionsJuly 19, 2012
For immediate release
Contact: Katherine Dibling,  Public Affairs Specialist, (215) 574-4119
Manufacturing firms responding to the Business Outlook Survey continued to report weak business conditions in July. The survey’s diffusion index of current activity increased to -12.9 from a reading of -16.6 in June, marking the third consecutive negative reading for the index.
In addition to the index of general activity, indexes for new orders and shipments also improved from June, yet all remained negative this month, suggesting overall declines in business activity. Firms reported declines in employment and shorter work hours this month. The manufacturers reported near-steady input and output prices in July. The survey’s indicators of activity over the next six months remained positive but moderated somewhat from June.
In the special questions this month, firms were asked about recent demand for their own goods and to characterize reasons for slowing. They were also asked to forecast production in the third quarter compared to the second quarter.
Special QuestionsAlmost 37 percent of firms reported decreased demand for their manufactured products in the past two months.Just over 30 percent of firms saw increased demand for products.Most frequently cited reasons for slowing included uncertainty about the economy (65 percent) and uncertainty about future tax rates and government regulations (52 percent).Nearly 22 percent of the firms expect decreases in production of greater than 4 percent.Twelve percent expect increases of greater than 4 percent.
Indicators Suggest Continued DecreasesThe survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a reading of -16.6 in June to -12.9. This marks the third consecutive negative reading for the index ( see Chart). Nearly 32 percent of the firms reported declines in activity this month, exceeding the 19 percent that reported increases. Indexes for new orders and shipments remained negative but increased 12 and 8 points, respectively.
Labor market conditions at the reporting firms deteriorated this month. The current employment index decreased 10 points, to -8.4, its second negative reading in three months. The percent of firms reporting decreases in employment (18 percent) exceeded the percent reporting increases (10 percent). Firms also indicated fewer hours worked this month: The average workweek index increased 2 points but posted its fourth consecutive negative reading.
SummaryThe July Business Outlook Survey suggests that firms in the region’s manufacturing sector are continuing to experience declines in overall activity. More firms reported declines in new orders, shipments, and employment than reported increases. Prices, on balance, were near steady this month. The outlook among reporting firms, while not as optimistic as last month, suggests that firms believe that activity will rebound over the next six months.
Special Questions (July 2012)
1. Over the past two months, how would you characterize the demand for your manufactured products?
%
Subtotal
| Increased significantly |
4.1%
|
30.1%
| | Increased moderately |
26.0%
| | No change |
21.9%
|
| | Decreased moderately |
34.2%
|
36.9%
| | Decreased significantly |
2.7%
|
2. If you have experienced a recent slowing in growth in demand, to what do you attribute the slowdown? (Choose all factors that apply.)
| Increased uncertainty about the economy |
65%
| | Increased uncertainty about future tax rates or government regulations |
52%
| | Seasonal factors |
39%
| | A slowing in export demand |
22%
| | The lack of federal government spending |
9%
| | The lack of state and local government spending |
7%
| | Cost factors and pricing associated with energy, commodities, or transportation |
7%
|
3. What percentage change do you anticipate for production in the third quarter over the second quarter?
%
Subtotal
| Increase of more than 4% |
12.3%
|
35.5%
| | Increase of 2-4% |
16.4%
| | Increase of 0-2% |
6.8%
| | No change |
15.1%
|
| | Decline of 0-2% |
13.7%
|
46.6%
| | Decline of 2-4% |
11.0%
| | Decline of more than 4% |
21.9%
| Average: -0.5%, Median: 0
|
|
