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Morgan Stanley: Record Collapse
#1
https://www.cnbc.com/2019/06/13/a-morgan...-ever.html

A Morgan Stanley economic indicator just suffered a record collapse

Published Thu, Jun 13 2019  2:01 PM

Maggie Fitzgerald



Key Points

  • The Morgan Stanley Business Conditions Index fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record.

  • “The decline shows a sharp deterioration in sentiment this month that was broad-based across sectors,” economist Ellen Zentner said in a note to clients on Thursday.

  • Every subindex of the Business Conditions Composite fell in June, except for the credit condition category, which “is consistent with the recent easing in broad financial conditions,” Zentner said.


A reading of the economy from Morgan Stanley is signaling “June gloom.”

Morgan Stanley’s Business Conditions Index, which captures turning points in the economy, fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record and the lowest level since December 2008 during the financial crisis, according to the firm.....
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