FAST FIVE: 12 Signs That The Economy Is Seriously Slowing Down As 2020 Begins
12 Signs That The Economy Is Seriously Slowing Down As 2020 Begins Authored by Michael Snyder via TheMostImportantNews.com, Lost in all of the headlines about Iran and impeachment is the fact that the US economic slowdown which began during the latter stages of last year appears to be accelerating. The final numbers which will tell us if we are officially in a recession at this moment won't be released until months from now, but for millions upon millions of Americans it definitely feels like one has already started. Yes, the stock market has been soaring, but at this point the stock market has become completely divorced from economic reality. And as you will see later in this article, stock prices are now the most overvalued that they have ever been in all of American history.
The following are 12 signs that the economy is seriously slowing down as 2020 begins- #1 The US Manufacturing Purchasing Managers Index has been in contraction for 5 months in a row, and it is now at the lowest level we have seen since June 2009.
#2 Last month, manufacturing employment fell at the fastest pace we have seen since August 2009.
Shouldn't the fact that stock prices have been soaring be seen as an optimistic sign.
In addition, price-to-sales ratios for the S&P 500 are now at the highest level in all of US history- The above chart, from Ned Davis Research, shows that price relative to sales for the S&P 500 is at a record high, “well in excess of what they were in 2000 or 2007 at those peaks,” wrote Ned Davis in a Wednesday note to clients.