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The current decline in US manufacturing would be the first time since 1952 that Industrial Production has declined for four straight months without the US economy not being in recession. A worse-then-expected 0.5% MoM plunge – near the worst since 2009, led to a 1.0% drop YoY, the 4th monthly decline…
Another data point to ignore…
Led by a 9.9% YoY crash in mining…biggest since 1983!
If it walks like a duck, quacks like a duck… it must be a recession?
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