#economics #recession #PMI #GDP #FED #ECB #inflation #QE #Pivot #markets
Business activity contracts, most since 2009 excluding the lockdown, in the US service sector in early July with S&P Global Services PMI dropping to 47 from 52.7 in June. This reading came in much weaker than the market expectation of 52.6. Economic conditions show signs of weakening while CBs are tightening.
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