‘Business as Usual’ – Peace / Safety / Destruction / Economic Collapse

Jesus said the coming of the Son of Man will be just like the days of Noah (Matthew 24:37-39). The thing about the days of Noah is that even in the midst of terrible apostasy, evil, violence, and rebellion against God, the people went ahead with their normal lives. They planted fields, they harvested crops, they built houses, they got married, and they had children. They went about business as usual, until the very day that Noah entered the ark, and then destruction came and took them all away

1 Thessalonians 5:3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.

Revelation 13:16-17 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

Business as Usual? Convergence of Economic Signs: UK manufacturing output shrinks at fastest pace in seven years

Firms cut back on production as Brexit uncertainty hits demand

Ben Chapman The Independent. August 1, 2019

The UK manufacturing sector shrank at its fastest pace for almost seven years in July as uncertainty surrounding Brexit and a global economic downturn caused firms to reduce their output, the latest snapshot survey suggests.

The closely watched purchasing managers index (PMI) survey came in at 48 for the month, unchanged from June, with anything below 50 indicating contraction. Manufacturing has now shrank for three consecutive months. The last time managers reported weaker activity was in February 2013.

Production volumes hit a seven-year low, dragged down partly because manufacturers sold off stocks built up to prepare for the Brexit deadline of 31 October, said IHS Markit which compiled the data.

While some firms were still running down stocks bolstered before the original Brexit date, others were re-starting these stockpiling efforts in preparation for the new October deadline, IHS Markit said.

Duncan Brock, group director at the Chartered Institute of Procurement & Supply, said: “A killer combination of economic uncertainty and the weakest production levels for seven years, battered the manufacturing sector into contraction for the third consecutive month in July.

“New orders fell as businesses used up stockpiled materials, EU businesses moved supply chains out of the UK and weakness in the global economy stifled demand from both domestic and export markets.”

Unsurprisingly the decline in employment levels followed suit with one of the sharpest cuts to jobs for more than six years as businesses hesitated to keep calm and carry on and build staff levels.

Employment in manufacturing decreased for the fourth month in a row, with the pace of decline accelerating to one of the highest over the past six-and-a-half years.

Demand was weaker from domestic and overseas markets. The decline in new export business mainly reflected lower intakes from the EU and China.

The latest grim indicator for the UK economy came as Boris Johnson stepped up plans for a no-deal Brexit widely expected to cause significant disruption to businesses and consumers.

However, manufacturers maintained a positive outlook in July with more than 46 per cent expecting output to be higher in a years’ time than it is now, compared to just 10 per cent predicting output will be lower.

Managers pointed to new product launches, an expected rebound in exports and reduced uncertainty following Brexit as reasons to be optimistic.

Rob Dobson, director at IHS Markit said manufacturers were “suffocating under the choke-hold” of slower global growth and political uncertainty.”“The weak, highly competitive environment makes a sustained revival highly unlikely in the coming months.

“However, a short-lived bounce leading up to October should not be ruled out, as some manufacturers are already gearing up to re-start Brexit preparations.

“If so, expect a case of déjà-vu during quarter four, as another correction in inventory holdings hits growth in the lead-up to year-end.

The pound sank to a two-and-a-half year low against the dollar on Tuesday.