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.
