Services Surveys Signal Q3 Recession Imminent Amid "Tightening Financial Conditions"

5 October 2022

Despite bouncing from August’s plunge, S&P Global’s Services PMI printed below 50 (in contraction) for the 3rd month in a row (at 49.3). Of course, in keeping with the idiocy, ISM Services printed 56.7 (below 56.9 in August but well above the 56.0 expected)…

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