ICYMI – Morgan Stanley Business Conditions Index, June, records its biggest drop on record

News

Morgan Stanley says its indicator is designed to catch turning points in the economy

  • it fell by 32 points in June
  • drop is the largest one-month decline on record
  • and the indicator is at lowest level since December 2008 (everyone remember what was going on then, right?)

MS says its signalling “June gloom”:

  • “The decline shows a sharp deterioration in sentiment this month that was broad-based across sectors′ 
  • “Fundamental indicators point to a broad softening of activity, but analysts did not widely attribute the weakening to trade policy.”
Via CNBC (overnight report hence the ICYMI)

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