A survey that was just released discovered that 35 percent of all small business owners in the U.S. “could not pay their rent in full or on time in June”.
#2 A different survey found that 51 percent of all small businesses owners in the U.S. believe that rising prices could “force them to close their businesses within the next six months”.
#3 It is being reported that 45 percent of all small businesses in the U.S. have already decided to freeze the hiring of new workers.
#4 Sales of previously owned homes dropped 5.4 percent during the month of June. That is now the fifth month in a row that we have seen a decline.
#5 In three-fourths of the metro areas that Redfin tracks, at least 25 percent of home sellers reduced their asking price during the month of June.
#6 Blackstone has prepared a war chest of 50 billion dollars so that it can scoop up depressed real estate all over the country after housing prices have crashed in the months ahead.
#7 The number of Americans applying for jobless benefits has risen to the highest level in eight months.
#8 Employment postings for software development jobs have dropped off by more than 12 percent during the past four weeks.
#9 The Conference Board’s index of leading economic indicators has now fallen for four months in a row.
#10 The S&P Global Flash U.S. PMI Composite Output Index just went negative for the very first time since the last recession.
#11 The latest number for the Philadelphia Fed manufacturing index came in at -12.3, and that was much worse than what most experts were anticipating. Any reading below zero indicates contraction, and needless to say this reading was way below zero.
#12 Inflation continues to rage out of control even as economic activity in the U.S. significantly slows down. , the average price of a used vehicle in the United States has now risen to a whopping $33,341.
#13 The Atlanta Fed is now projecting that U.S. economic growth for the second quarter will come in at -1.6 percent. If it is ultimately confirmed that the U.S. economy has already been contracting for two quarters in a row, that would mean that we are officially in a recession right now.
SHIB$
