The uncertainty surrounding the United States economy is seemingly accelerating as various indicators suggest a recession might be imminent.
For instance, data-driven research investment platform Game of Trades highlighted in a post on July 27 that the latest data from the ISM New Orders Index has revealed a significant slowdown in economic activity.
This crucial economic indicator has plunged to its lowest level in over a year, casting a shadow over what appeared to be a burgeoning economic recovery.
The ISM New Orders Index, which tracks the volume of new orders received by manufacturers, is often seen as a leading indicator of economic health. Its recent decline suggests that the economic recovery may be stalling, with potential downside momentum mirroring patterns seen in past economic downturns, such as in 2008.
US ISM new orders. Source: Game of Trades…
