Global Manufacturing PMI Hits 14-Month Low at 47.6, Signaling Ongoing Economic Slowdown

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Global manufacturing PMI dropped to 47.6 in October, the lowest since Covid and below the 50 threshold for 14 months, indicating a clear global slowdown, with the decline driven by activity components while price pressures remained steady.

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NY FED recession probability is on highs. Unemployment is going up. Similar pattern was right before most previous recessions.

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