To fully explain what is happening we looked at a Statistic called PMI—Purchasing Manager Index. The composite Purchasing Managers’ Index (PMI) is an indicator of economic health for the manufacturing and service sectors. The purpose of the PMI is to provide information about current business conditions to company decision-makers, analysts, and purchasing managers.
A composite PMI ranges from 0 to 100. While PMI above 50 indicates that the economy is growing, Below 50 strongly indicates an economy in contraction.
We reviewed the PMI for several countries post covid. And have discovered that the United States is dead last in economic growth.
It is safe to say that despite the glowing words about the economy coming from the White House, the United States is in a recession or a negative trend in economic health.