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CEO confidence sinksBy: Veneta Dimitrova |
The decline in CEO confidence implies weak capex and corporate profit growth. NYC services activity contracts, likely foreshadowing a weaker ISM Non-Manufacturing Index tomorrow. But ADP private payrolls continue to show labor market resilience. Low mortgage rates boost housing demand, countering recessionary fears.Ned Davis Research | Economics | U.S. Daily Economic Perspectives | Daily
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