Flash PMI index falls under 50 signaling a contraction for the first time since 2013
corona virus was partially to blame but also to blame was companies worry about a wider slowdown…
“With the exception of the government-shutdown of
2013, US business activity contracted for the first
time since the global financial crisis in February.
Weakness was primarily seen in the service sector,
where the first drop in activity for four years was
reported, but manufacturing production also ground
almost to a halt due to a near-stalling of orders.
not a good report at all. if it continues for a couple more months it will pretty much indicate that we are in a recession