US Business Activity Contracts in July to 47.5

The video discusses the poor economic numbers from Europe and the US, focusing on the PMI index. The US PMI fell slightly, but services and composite numbers dropped significantly, indicating contraction. The UK showed relatively better PMI numbers, though recession odds remain high. The discussion suggests that current numbers argue against major rate changes, with future updates expected to provide more clarity.

What do the recent European numbers indicate about the economy?

How did the S&P Global PMI numbers change recently?

What was the composite PMI number and how did it change?

What does the decrease in PMI numbers suggest about the likelihood of a recession?

How do the PMI numbers of the United Kingdom compare to those of the US and Europe?