CELENTE: World's Sliding Into Contraction
But don't worry! When all else fails, they take you to war
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The economic data coming in across the globe is gloomy. The facts are in the numbers. Factory orders in Japan keep shrinking as its PMI slumped to 49.7 in September from 49.8—below the 50.0 mark for the third straight month… which signals negative growth.
Over in Taiwan, its PMI for September came in at 50.8, down from 51.5 in March. Why? Because global demand for products is down. Indeed, South Korea’s export growth is shrinking as it exported fewer products to the world’s largest economy, the United States. The survey shows that the manufacturing slump also hit Vietnam, Malaysia, and Indonesia.
In the world’s second-largest economy, China, the Caixin/S&P Global manufacturing PMI on Monday registered at 49.3 in September from 50.4. Not only was it the lowest reading since July 2023, but, again, a number below 50 is negative.
Growing at its slowest pace since last December, India’s manufacturing index hit an eight-month low in September.
In Europe, HCOB’s eurozone manufacturing Purchasing Managers’ Index shows that manufacturing activity across the eurozone fell to 45.0 in September, hitting the biggest and fastest drop for the year.
As for the world’s #1 economy, today, the Institute for Supply Management reported that its Manufacturing Purchasing Managers Index stalled at 47.2 in September and was lower than forecasts looked for a rise to 47.5 from August. Again, a number under 50 equals contraction… and as evidenced by the global data… manufacturing is a negative trend.
Thus, the fewer products manufactured equals declining consumer demand.
The ISM’s New Orders Index for September was 46.1, and while the production Index also rose from 44.8 in August to 49.8 in September, it is still in negative territory as is the ISM Employment Index which showed that a labor market is in decline as the index fell to 43.9 in September from 46 in August.
TREND FORECAST: By the data, the world is sliding into contraction. Yet, not a word from mainstream business media Presstitutes of what triggered the decline! Once-upon-a-time, not too long ago, the International Clown Show—which the general public calls “politicians”—launched the COVID War.
When they locked down the world they destroyed the lives and livelihoods of billions. And while the equity markets and economies should have crashed, they artificially boosted them by printing trillions of dollars of fake money backed by nothing and printed on nothing. And their lowering interest rates to negative and zero, kept the fake cheap money scheme flowing.
But when they raised interest rates to stop the spiking inflation that was a result of the cheap money flow, it was the beginning of the end of economic growth, and now the reality is here for all to see.
Indeed, Better Dwelling reported today that 1 In 20 businesses in Canada closed in a single month, and this was the worst record since what they call the Pandemic:
Canadian Businesses Are Closing Like A Pandemic Just Kicked Off
Canadian businesses are shuttering at a breakneck speed. Seasonally adjusted data shows 46,354 businesses closed in June, marking the largest wave in exactly 4 years. That’s right, the current environment is so rough that businesses are responding like 2020 pandemic lockdowns just kicked off.
The closure rate (share as a total) also set a similar pandemic record.
The rate climbed 0.2 points to 5.0% in June, meaning 1 in 20 businesses closed their doors for good last month. If that sounds high, that’s because it is—the highest rate since June 2020.
Even more disturbing is the fact this issue is now widespread. Stat Can observed closures across industries, noting it was a broad issue.
They did note that construction and retail were slightly ahead of the pack. This highlights how weak households are these days, since both industries should have seen a large boost just by sheer population growth.
TREND FORECAST: Again, as we have long noted, when politicians declare war, the masses follow. And the political clowns running the world said their fight to defeat the coronavirus was a war and the public got their jabs, masked-up, stood six feet apart, stayed home, couldn’t congregate, see dying loved ones etc.