Richmond Fed Manufacturing Index 6-month outlook for new orders -26. Economic output hits 16-month low in April. Goldman Sachs says to brace for a bigger stock drawdown, wider credit spreads and recession
🇺🇸 Richmond Fed Manufacturing Index 6-month outlook for new orders -26.
An all-time record low!
Chart: @zerohedge pic.twitter.com/wmKOQNUzGZ
— Alex Joosten (@joosteninvestor) April 23, 2025
Goldman Sachs, $GS, says to brace for a bigger stock drawdown, wider credit spreads and recession
— unusual_whales (@unusual_whales) April 23, 2025
JPMORGAN: MIGRATION CONCERNS HURTING U.S. TOURISM
This is another headwind to the U.S. economy.
Foreign tourism has completely halted.
— Spencer Hakimian (@SpencerHakimian) April 23, 2025
US economic activity continued to sink this month amid uncertainty around tariff policy.
New data from S&P Global out Wednesday showed its flash composite PMI output index, which captures activity in the services and manufacturing sectors, fell to 51.2 in April, hitting its lowest level in 16 months.
Manufacturing activity rose to 50.7, up from 50.2 in March, while services activity fell to 51.4 from 54.4. Readings above 50 indicate an expansion in activity in the sector; readings below 50 indicate contraction.
Sentiment about the year ahead fell sharply, reaching the lowest level since July 2022 and the second-lowest since September 2020.
Meanwhile, prices charged for goods and services “rose at the sharpest rate for just over a year,” S&P Global said in a release. Manufactured goods saw an “especially steep increase,” associated with higher tariffs.
