The third OPEC+ oil cut. Oil ended down on the news.
Sign of an extremely weak global economy. pic.twitter.com/Ic3kgQWpFf
— Mac10 (@SuburbanDrone) July 3, 2023
Optimism around the Chinese consumer has faded following the re-opening
A weakening Chinese economy is a major red flag for the global economy pic.twitter.com/8sDZ0BweP2
— Bravos Research (@bravosresearch) July 3, 2023
“LIVE Shot of the Industrial Recession USA and Europe is already in…
Yield Curve Crashing to new #Quad4 Cycle Lows
= minus -109bps !”
LIVE Shot of the Industrial Recession USA and Europe is already in…
Yield Curve Crashing to new #Quad4 Cycle Lows
= minus -109bps ! pic.twitter.com/3OqmYN0uJB
— Keith McCullough (@KeithMcCullough) July 3, 2023
ISM Manufacturing Dips to 46 Percent, 8th Straight Month of Contraction
Economic activity in the manufacturing sector contracted in June for the eighth consecutive month following a 28-month period of growth according to the Institute for Supply Management.
EUROPE: #Quad4 Recession Update = Eurozone final manufacturing PMI revised lower to 43.4 versus 47.7 consensus = 12th successive month in contractionary territory pic.twitter.com/cbmffEvXch
— Keith McCullough (@KeithMcCullough) July 3, 2023
It's not often 100% of the ISM Manufacturing components register a below-50 reading. pic.twitter.com/Y4GGsuW08P
— Eric Basmajian (@EPBResearch) July 3, 2023
yes PMI manufacturing is contracting.. but what about getting the big picture.. Hong Kong is leading the game.. investors hope chinese liquidity injections work.. pic.twitter.com/ufMpWMuMxx
— Alessio (@AlessioTMAD) July 3, 2023
🚩🚩 South Korea factory activity suffers longest downturn in at least 19 years
South Korea's factory activity shrank at a steeper pace in June and extended its downturn to a record 12th consecutive month, a survey showed on Monday, underlining the challenges facing the economy… pic.twitter.com/01cukHYnrW
— PiQ (@PiQSuite) July 3, 2023
OUCH! German manufacturers make deeper cuts to output in June as order book decline gathers pace. German Final Manufacturing PMI slumps to 3y low. Sank to 40.6 in June from 43.2 in May, below the flash estimate of 41. pic.twitter.com/ATrqrif0vM
— Holger Zschaepitz (@Schuldensuehner) July 3, 2023