The U.S. economy slouched toward stagnation in August, expanding at its weakest pace in six months, a key survey of business leaders indicated Wednesday. The S&P Global flash composite output index—a preliminary reading of survey results that combines both the services
Growth is slowing in services and manufacturing remains in a slump. Inflation is proving to be a “sticky” concern.
You could not wish for a better illustration of how hard it is to read the economic signals these days than the dueling services sector purchasing managers indexes released on Monday.
This is not the slowdown Jay Powell was looking for.
Another “no landing” report.
The latest economic data continues to point in the direction of recession.
S&P Global’s survey indicates a second consecutive month of contraction.
S&P Global’s flash composite PMI indicates contraction for the fourth straight month.
Dueling surveys paint different pictures of demand and production.
A worrying deterioration in the economy
For the stock market, April has indeed been the cruelest month in part because it has seen a blossoming awareness that inflation is not going to die of exhaustion after hitting 40-year highs.
