michael mckee. what you have? michael: the remember during the great recession we heard stories about people living their parents basements and no one getting together but now they're all sitting in a tree and all of that and household formations are rising very the problem for the economy's new home sales are not keeping up. you can see that in the graph. the white line is new home sales. the blue line's household formations. you will have to match those together. why do we care? the fed may be cutting rates to try to boost the housing industry. the yellow line is housing contribution to gdp. you have to go way over here to notice i cannot put the line in at hero. housing has been a drag on the economy. maybe the fed cuts rates, we can see more people buying houses and more houses being built. that would add to gdp but it will be a while. vonnie: phenomenal chart. those charts were amazing. two aspects of the global economy we have not been able to see until now. -- the the real owners real winners were the viewe

a much to michael mckee, reporting from washington. in the meantime, we want to talk to torsten slok about what is happening with manufacturing? torsten: manufacturing has been going through this turbulence. that is why the ism has been rolling over. the question becomes how much of that will continue. the job numbers suggest that things for now look a little bit better on the employment front but maybe the manufacturing sector still needs more runway. it is a global picture that manufacturing has been deteriorating. david: let's talk about what robotics may or may not be doing. steel wire products of maryland is a leading manufacturer of custom products including steel wire and sheet metal that imports to 38 countries around the world. we welcome the ceo, drew greenblatt coming to us today from philadelphia. give us a sense of your business and the role robotics play in it. optimistic, this job report reflects what we are seeing. we are using robotics to help our employees be more productive, more viable making unique parts, patented