The big picture: There have been a series of subtle, but worrying, signs in economic data over the last several weeks that show cracks in what has been a robust post-pandemic expansion.
When the jobless rate rises as much as it has this year, it rarely levels off, and more likely signals a tumble into recession.
Other economic data and anecdotal reports from major companies have been flashing warning signs of economic troubles ahead in recent weeks.
The situation is clear in a series of quotes from unnamed respondents to the Institute for Supply Management's monthly survey of manufacturers released Thursday, that showed significant contraction in business activity.
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