US: Manufacturing sector is already in recession – Wells Fargo – by MSalordFX IndustrialProduction EconomicIndicator UnitedStates
the past eight months, the largest of which being November and December, it is evident that the manufacturing sector is already in recession, said analysts at Wells Fargo.“This is not an encouraging report for industrial activity particularly for the manufacturing sector which comprises roughly three quarters of all output and where the decline in December was a larger 1.3%.”
“While we suspect the slowdown in activity doesn't bode well for overall economic growth, the fact that manufacturers are more 'wise to the game' this cycle suggests they may be better positioned to weather an economic slowdown.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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