A quick skim of recent headlines would lead you to believe that the U.S. mining industry is to blame for the recent slowdown in national industrial production.
But headlines don't always tell the whole story.
According to Newsmax Finance, industrial production began to fall unexpectedly in the spring. Among the culprits cited in the headline is the U.S. mining industry, although almost no information in the article is given to support that claim.
Fortunately, other sources elaborate further on this issue, providing a clearer picture of what is, in fact, a more complicated situation:
U.S. industrial production unexpectedly fell in May as manufacturing and mining activity remained weak, a sign that a strong dollar and spending cuts in the energy sector continued to constrain economic growth (The Fiscal Times).Even more clarity is offered through Reuters, in an article that takes the time to break down not only the root causes for the slowdown but also the possible solutions. Although the headlines point a finger at U.S. mining as a main key to the slowdown of production, that's only part of the story.
Mining is a key, yes; but it's only one key, and a small one at that. A careful reading of the text reveals that a large number of factors have contributed to the recent industrial drag--weak orders, the rise of the US dollar, and a steady decline in oil and gas drilling to name just a few.
Headlines are intended to be eye-catching, not necessarily fully informative. That's why as we work to keep up with developments within our respective fields, it's important to do more than skim. Because although it's considered bad journalism, there are still plenty of reasons for writers to "bury the lead."
As part of our service to you, we work to keep you apprised of developments within the mining, farming, and big tire communities.
Image credit: Dionisius Purba on Flickr
The post "Dragging Industrial Production the Fault of U.S. Mining Industry?" appeared first on BuyBigTires.com.
No comments:
Post a Comment