New Export Orders in July 2022
From the Global Manufacturing PMIs
For key Exporting Economies
1. Japan (orange): 48.8
2. USA (red): 47.7
3. China (black): 47.4
4. Germany (blue): 42.8
5. Taiwan (pink): 38.4
Everyone is below the critical 50 threshold
GLOBAL RECESSION IS COMING pic.twitter.com/Nh3pwQW2zb
— Robin Brooks (@RobinBrooksIIF) August 1, 2022
Global PMI activity components fell below the 50 threshold for the 1st time since June 2020, down 1.7 pts to 48.7
√ Asia ex- Japan & china is the only region which increased over the month (+0.4pt)
√ Latam declined the most (-2.5pts) pic.twitter.com/7WHLJeO8rf
— Patrick Zweifel (@PkZweifel) August 2, 2022
Confirmed : Massive Layoffs Coming t.co/eB3dyh18k2
— Wall Street Silver (@WallStreetSilv) August 2, 2022
Labor market finally cracks:
JOLTS job openings 10.698MM, Exp. 11.0MM, Last 11.254MM
605K drop is 3rd biggest on record, only Covid was worse.
— zerohedge (@zerohedge) August 2, 2022
The “American Dream” shopping mall is in default.t.co/haFV1TNGok
Another casualty of misallocated cheap capital.
14 years of 0% rates later, pundits wonder relative to 2007, where is the leverage this time?
— Mac10 (@SuburbanDrone) August 2, 2022
Household debt tops $16 trillion for the first time, fueled by higher inflation and interest rates t.co/LKi6FnQJmY
— CNBC (@CNBC) August 2, 2022
Australia’s Housing Downturn Accelerates: In Sydney, Sharpest Price Drops “in Almost 40 Years”
Sales volume plunged in Sydney and Melbourne. Rate hikes bite, yet the Reserve Bank of Australia just started hiking.