BLOOMBERG Bloomberg Markets Balance Of Power July 14, 2024
October 14th. David we want to join mike mckee in new york. We got ism numbers. They were not a surprise and a good way. Michael they were a surprise and a terrible way. Purchasing Management Index falls more than one point. It is the biggest drop in the first contraction since 2016, january of 2016. Even worse, the underlying numbers, new orders fall of 47. 2, unemployment falls to 47. 4, inventories rise to 49. 9. 50 is the abiding line between growth and contraction. When you have inventories rising faster than new orders, there is a strong correlation with recession ahead. We are not in re...