Mild Meltdown

The US manufacturing sector is in its worst shape since the end of the Great Recession in 6/09 and is firmly shrinking; it’s the second time since the end of the Great Recession. Although this contraction is slightly worse than the last manufacturing recession of 15Q4, which was mild, like then the service sector is holding up well; it’s at its best level in seven months. No recession worries.

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