Many signs we're in recession w/economy continuing to decelerate.Composite PMIs at 45,housing rolling over fast,retail is weak,labor conditions are deteriorating.Overseas is even worse.And inflation is rolling over & likely will surprise on the downside.Fed will pause this fall.
— David Hunter (@DaveHcontrarian) August 24, 2022
https://twitter.com/MFHoz/status/1562147232928997376
https://twitter.com/NorthmanTrader/status/1562390545481310208
The months' supply of new homes EXPLODED in July.
The new home market now has 10.9 months of supply!
Price cuts are going to come fast and hard in the new home space.
⏲️💣 pic.twitter.com/Q4G41p1Okr
— Eric Basmajian (@EPBResearch) August 23, 2022
Home prices fell for the first time in 3 years last month – and it was the biggest decline since 2011 https://t.co/rps7VhQORm
— CNBC (@CNBC) August 24, 2022
https://twitter.com/WallStreetSilv/status/1562212944271785984
Recession Evidence Piles Up with S&P PMI Services Leading the Way
US private sector firms signaled a sharper fall in business activity during August, according to latest ‘flash’ PMI™ data from S&P Global. The decrease in output was the fastest seen since May 2020 and solid overall. The rate of contraction also outpaced anything recorded outside of the initial pandemic outbreak since the series began nearly 13- years ago.
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