If Goldilocks Were A Recession

If Goldilocks Were A Recession

Manufacturing activity expanded at the slowest pace in two years, the first of this week's top-tier US economic data showed. Growth concerns are rampant, and although there will still be more questions than answers by Friday afternoon, market participants should have a better sense of whether recession fears are overblown or justified. ISM manufacturing printed 52.8 for July, the lowest since June of 2020 (figure below). However, the headline comfortably topped estimates and the production gau
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