ISM Services PMI is below 50, at its lowest level since May 2020.
ISM Manufacturing PMI has been below 50 for 19 out of the last 20 months.
Only periods w/ both PMIs below 50 at the same time:
-Jul '08 - Jul '09 (Recession)
-Apr-May 2020 (Recession)
-Dec 2022 -
Apr 2024, Today
https://x.com/charliebilello/status/1809240690162807121
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ISM Services PMI is below 50, at its lowest level since May...
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