by BoatSurfer600
Some of the countries in Europe whose economies have a high share of manufacturing are witnessing enormous contraction in cyclical activity. Higher interest rates are taking a toll on economic activity.
Source: Sagar Singh LinkedIn
With China's economy being pulled into the global recession and with no real way to escape from it, commodities beyond crude oil are capitulating. Baltic Dry is collapsing, too. Falling below 1000 down another 13% just today heading back toward record lows. pic.twitter.com/wR9ItvtW6u
— Jeffrey P. Snider (@JeffSnider_EDU) June 1, 2023
The global recession trade is on in size.
Only Tech speculators and bullish pundits haven't figured it out.
Being willfully ignorant is a "Black Swan event". pic.twitter.com/zwMhhXyLR1
— Mac10 (@SuburbanDrone) May 31, 2023
#CrudeOil keeps plunging, signalling the impending global #recession . Last few years have been hard but the worst is ahead of us. Stay vigilant. #economy pic.twitter.com/HgsJ1LMJWw
— Finvoice (@FinanzUpdate) June 4, 2023
Is the Recession coming faster than expected?
Costco chief financial officer sees signs of a recession
Costco CFO raises concern for impending recession. He notes that he is now seeing consumers change their purchasing habits within the stores. More consumers are buying more non perishable goods and purchasing less expensive pork and chicken instead of meat.
He also notes that there are less big money purchases which led to a decrease in overall earnings for Q1 of this year.