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U.S. consumer confidence suffered a sharp blow yesterday, plummeting 7.2 points to 92.9, according to the latest data from the Conference Board Consumer Confidence Index. Alarmingly, the Expectations Index, which measures consumers’ short-term outlook on the economy, tumbled to 65.2—its lowest level in 12 years—breaking well below the critical 80-point threshold that traditionally signals an […]
The latest S&P Global Flash US PMI Composite Output Index for March signaled a mixed economic outlook, rising to 53.5 from February’s 51.6. Stronger performance in services gave optimism, as the Flash US Services PMI Business Activity Index surged notably to 54.3, up from the prior month’s 51.0. However, manufacturing painted a different, troubling picture: […]
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.
