1. The Spectre of Recession Is Getting Closer- US manufacturing contracted for a second straight month, with the manufacturing PMI index issued by the Institute for Supply Management coming in at 48.4 for December, the lowest since May 2020. - Exceeding analysts’ forecasts, the decline in manufacturing – accounting for 11.3% of the US economy – is perceived by many as a harbinger of a soon-to-come recession. - A robust labor market is by now pretty much the only thing keeping the US from plunging into a recession,…
