Overnight saw the first major economic print from the US for 2023, and it wasn’t good news as manufacturing continued its major contraction in December 2022, which puts further fuel to the fire that the US will face a recession soon.
From Reuters:
The Institute for Supply Management (ISM) said on Wednesday that its manufacturing PMI dropped to 48.4 last month from 49.0 in November, contracting for a second straight month.
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