![]() growth follows the general trend of the PMI. PMI’s one of the most historically accurate leading-indicators for estimating growth. (Note that a reading above 50 indicates expansion. ![]() Composite Output Index fell to a 40-month low (down to 50.6 from 50.9 in May). Manufacturing Output Index fell to a 37-month low (down to 50.2 from 50.7 in May).Īnd the U.S. Services Business Activity Index fell to a 40-month low (down to 50.7 from 50.9 in May). Other readings from the recent IHS Markit report showed: Manufacturing PMI (purchasing managers index) declinedto 50.1 in early June – its lowest point in 117 months (September 2009). ![]() Regardless of what the Federal Reserve Chairman – Jerome Powell – says about the economy (from yesterday’s press meeting) – things really do look bleak.Īnd to give you some perspective – these three leading-indicators (economic factors that change before the rest of the economy does) show just how bad the negative momentum in the world economy is.įirst – the recent U.S. ![]()
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