All bad news today but especially the unemployment numbers. If FED keep raising interest into this it will end bad. FED will pivot sooner rather than later and economy will get back on track?
Demand weakness weighs further on US private sector business activity in November
November saw a solid contraction in business activity across the US private sector, according to latest ‘flash’ PMI™ data from S&P Global. Lower output was seen across both manufacturing and service sectors amid increasingly steep downturns in demand. The overall fall in activity was the second-fastest since May 2020 as inflation, rising borrowing costs and economic uncertainty weighed on demand. The headline Flash US PMI Composite Output Index registered 46.3 in November, down from 48.2 at the start of the fourth quarter. The rate of contraction signalled was the sharpest since August and among the ... (full story)