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Brutal new recession indicator: Manufacturing sector contracts for the first time in a decade

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Warning signs keep piling up that the American economy is slowing down, if not headed for an outright recession.

CNBC reports that IHS Markit’s U.S. manufacturing purchasing managers index this month contracted for the first time since September 2009.

“New orders received by manufacturers dropped the most in 10 years, while the data also showed export sales tanked to the lowest level since August 2009,” CNBC reports.

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A major reason for the drop in manufacturing orders has been President Donald Trump’s trade war with China, which has raised the prices of raw materials such as steel and aluminum that are used for manufacturing goods.

Additionally, IHS Markit economics associate director Tim Moore says that this manufacturing slump is impacting the service economy as well.

“The most concerning aspect of the latest data is a slowdown in new business growth to its weakest in a decade, driven by a sharp loss of momentum across the service sector,” Moore explains. “Survey respondents commented on a headwind from subdued corporate spending as softer growth expectations at home and internationally encouraged tighter budget setting.”

The U.S. Treasury bond yield curve also inverted once again on Thursday, which means that interest rates for 10-year treasury bonds were lower than interest rates for 2-year bonds. In the past, an inverted yield curve has been a key sign of a coming economic recession.


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WATCH: CNN uses video to bust Trump for lying and stealing credit for veterans program signed by Obama

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Reacting to Donald Trump's abrupt departure from his Saturday press conference after he was pressed by a CBS White House correspondent Paula Reid for lying and taking credit for a veterans bill signed into law by former President Barack Obama, CNN's Victor Blackwell shared clips of the former president announcing the signing in 2014 and Trump attempting to steal credit yesterday.

According to Blackwell, "One of President Trump's go-to lies is his role in passing Veterans Choice. You saw it at the end of the news conference when he walked away. Well that was when he was faced with a question why he said that he passed Choice and Accountability for the V.A."

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Nagasaki marks 75 years since atomic bombing

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The Japanese city of Nagasaki on Sunday commemorated the 75th anniversary of its destruction by a US atomic bomb, with its mayor and the head of the United Nations warning against a nuclear arms race.

Nagasaki was flattened in an atomic inferno three days after Hiroshima -- twin nuclear attacks that rang in the nuclear age and gave Japan the bleak distinction of being the only country to be struck by atomic weapons.

Survivors, their relatives and a handful of foreign dignitaries attended a remembrance ceremony in Nagasaki where they called for world peace.

Participants offered a silent prayer at 11:02 am (0202 GMT), the time the second and last nuclear weapon used in wartime was dropped over the city.

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Lebanon information minister resigns over Beirut blast

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Lebanon’s information minister Manal Abdel Samad on Sunday quit in the first government resignation since a deadly port blast killed more than 150 people and destroyed swathes of Beirut.

?After the enormous Beirut catastrophe, I announce my resignation from government,? she said in a statement carried by local media, apologising to the Lebanese public for failing them.

A number of MPs also submitted their resignations a day earlier due to the explosions.

On Saturday afternoon, thousands took to streets in downtown Beirut in anti-government protests that demand the overhaul of the political system, days after massive explosions.

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