US Composite PMI Suggests the Economy is On the Verge of Recession
Mish Talk
NOVEMBER 25, 2022
The overall fall in activity was the second-fastest since May 2020 as inflation, rising borrowing costs and economic uncertainty weighed on demand. Demand conditions worsened as the fourth quarter progressed, with new orders across the private sector falling in November at the fastest pace since the initial pandemic wave in May 2020.
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