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Manufacturing slowdown vs recession

Economic data has frequently proven to be worse than a coin toss for assessing the future direction of stock markets

Investors think a US recession over the next 12 months is highly probable; they are convinced the US economy cannot continue to grow on its own while the rest of the world is in a slowdown or even in outright recession.

ON Oct 1, the US Institute of Supply Management Manufacturing data came out much worse than expected, causing a 2-day drop of 2.9 per cent. The figure grabbed financial news headlines, as the release of 47.8 was much worse than the 50.0 expected. Any number below 50 signals contraction in...

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