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August 31, 2022

Business sentiment, durable goods order growth, and inventories are reflecting a slowdown in economic activity.

The S&P Global Flash U.S. Composite PMI declined further into contractionary territory in August. The index dropped 2.7 points to 45, down for the fifth consecutive month. This also marks two consecutive months in contractionary territory (below 50), providing more evidence of the previously discussed (July 6, 2022; April 6, 2022) slowdown in economic activity....
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