Morgan Stanley’s Business Conditions Index Just Suffered The Biggest One Month Decline In History
Morgan Stanley’s Business Conditions Index, which captures turning points in the economy, fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record and the lowest level since December 2008 during the financial crisis, according to the firm.
At this point, global trade has already collapsed to levels not seen since the depths of the last recession. Manufacturing numbers are plunging all over the world, and we just got some brand new numbers from the U.K. that are extremely alarming…
Production output in the UK dropped by 2.7% in April from March, and GDP fell by 0.4% in just one month, according to the latest figures by the Office of National Statistics. The manufacturing sector provided the largest contribution to the downturn, with the manufacturing index plunging 3.9% in April, from March, its biggest monthly fall since June 2002.
via theeconomiccollapseblog Morgan Stanley’s Business Conditions Index Just Suffered The Biggest One Month Decline In History