Forward-looking indicators such as the orders-inventory ratio signal worse is to come for US #manufacturing in August
This means the #FOMC is hiking interest rates at a time when the US economy is already showing severe signs of stress & recession risks have risen.
One ray of light was an easing of price pressures in the flash July PMI surveys, though rates of #inflation clearly remain elevated
One ray of light was an easing of price pressures in the flash July PMI surveys, though rates of #inflation clearly remain elevated
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