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U.s. Business Activity Grows At Slower Pace As Chicago Index Falls To 56.7

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Business activity in the U.S. expanded in August at the slowest rate this year, signaling the economic recovery is cooling.

The Institute for Supply Management-Chicago Inc. said today its business barometer fell to 56.7 this month, the lowest since November, from 62.3 in July. Figures greater than 50 signal expansion.

A slowdown in manufacturing will restrain an economy already burdened by unemployment near a 26-year high, slackening consumer spending and plunging home sales. Waning demand and concern over the economic outlook are causing companies such as Intel Corp. to cut forecasts.

“You have the biggest source of growth beginning to roll over,” Eric Green, chief market economist at TD Securities Inc. in New York, said before the report. “Exports and inventory building are leveling off and providing not much of a tailwind.”

Economists forecast the gauge would fall to 57, according to the median of 55 survey projections. Estimates ranged from 53 to 60.

The dead cat bounce ending? Once the restocking is over will we start to see another contraction or have we go a sustainable recovery???

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  • 420 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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