The following are 12 signs that the economy is seriously slowing down as 2020 begins…
#1The U.S. Manufacturing Purchasing Managers Index has been in contraction for 5 months in a row, and it is now at the lowest level we have seensince June 2009.
#2Last month, manufacturing employment fell at the fastest pace we have seensince August 2009.
#3Last month, new manufacturing orders fell at the fastest pace we have seensince April 2009.
#4Chicago PMI has been contractingfor 4 months in a row.
#5European manufacturing PMIdeclined againin December.
#6Borden Dairy, one of the largest dairy companies in the entire world,declared bankruptcyjust a few days ago.
#7Earlier this month, the Baltic Dry Index had its worst dayin 6 years.
#8Overall, the decline in the Baltic Dry Index this month is the largest that we have seensince 2008.
#9The auto recession just continues to get even worse. Thanks to the substantial slowdown we witnessed during the second half of 2019, the total number of cars and trucks sold in the United States during all of 2019 was actuallybelow the level that we witnessed back in 2000when our population was significantly smaller.
#10Used heavy duty truck prices have fallen “as much as 50%“.
#11Macy’s just announced that they will be closing28 stores.
#12To start the year, AT&T is laying off thousands of workers, and according to Robert Reich those being laid off “will have to train their foreign replacements“.
i am guessing then you didn’t read any of this, or follow a single link.....?
