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Recent data have many cheerful about the economy. But according to Peter in his latest podcast, the economy may already be in recession. Here are some of Peter’s biggest causes for concern:
The president touted a manufacturing renaissance. However, economic indices show US manufacturing entering a Dark Age. Home sales are not looking bright, either.
People keep saying the economy is fine. We’re not in a recession. There’s nothing to see here. Meanwhile, business activity contracted for the fourth straight month in October.
In yet another sign the economy is tanking, private-sector business activity contracted for the second straight month in August. The S&P Global flash composite purchasing managers index (PMI) dropped to 45 this month from a reading of 47.3 in July. A print below 50 indicates a contraction in economic activity.
