Peter Boockvar Warns The Global Economy Is Tanking
KingWorldNews.com
May 25, 2016
With investors around the world worried about markets, today Peter Boockvar warned they have good reason to worry because the global economy is tanking.
Peter Boockvar: Markit’s May US services PMI fell to 51.2 from 52.8 in April and vs 51.3 in March. These figures are a definite comedown from the 55.9 average seen in 2015. Business optimism about the future fell to the “lowest recorded since the survey began in October 2009.” Employment dropped to the weakest since December ’14…
Peter Boockvar continues: The new orders component was “one of the weakest recorded” and “Some firms commented on a cyclical slowdown in investment spending and continued unwillingness among clients to commit to new projects.” Backlogs fell “with the rate of decline accelerating to its fastest for just over two years.” Input Price Inflation rose to the quickest pace since July 2015. Combining Markit’s services index today with the manufacturing figure a few days ago brings the composite index to 50.8 from 52.4 in April.
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