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⚠️CHART OF THE WEEK: US businesses have never been more pessimistic about the economic outlook

⚠️CHART OF THE WEEK: US businesses have never been more pessimistic about the economic outlook

US manufacturing and services surveys point to a rapid deterioration in economic activity

The Richmond Fed Manufacturing Index fell to -13 points in April, one of the lowest readings in 5 years.

Current Business Conditions tumbled to -30 points, the second-lowest since the 2020 crisis.

Concerningly, new orders expectations over the next 6 months dropped to -26 points, the lowest in at least 27 years.

Not even the 2020 lockdowns saw such a drop in orders expectations.

This suggest the manufacturing activity in the region will sharply worsen over the next few months.

5 EXTRA CHARTS AND ANALYSIS ARE AVAILABLE BELOW ONLY FOR PREMIUM READERS

🚨US layoffs are surging at a recessionary pace

February job report showed a lot of labor market weakness

globalmarketsinvestor.beehiiv.com/p/us-layoffs-are-surging-at-a-recessionary-pace

⚠️CHART OF THE WEEK: US bankruptcies hit a 15-year high

In Q1, 188 big companies declared a bankruptcy in the US

globalmarketsinvestor.beehiiv.com/p/chart-of-the-week-us-bankruptcies-hit-a-15-year-high

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