US Manufacturing PMI Plunges to 21-Month Lows

By: Curtis Wayne   3/22/2019

This is not good.  US Manufacturing PMI dropped more than expected in March

Worse news is that US Service PMI dropped, which has been keeping the economy out of recession all last year.  The service sector of the economy is about 75% of the GDP, 15.5 trillion of the total 20.5 trillion.  There cannot be a recession without a pullback in the services sector.

All last year, while the US Manufacturing sector was dropping, the services sector was rising. Revenues in the major private-sector services rose 6.3% in Q4 2018, compared to the same quarter a year earlier. 

If the service sector and the manufacturing sector continue to contract, the US could be in recession very soon.

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