Part 7/8:
The services sector's contraction, as reported by the S&P Global, marks a critical turning point, showcasing a loss of momentum in an industry that is usually robust. The first contraction in the services PMI in two years signals challenges that hark back to the economy’s previous recessionary phase. These downturns—combined with diminished optimism levels in services—strongly suggest that economic activity is entering a more dire state, as artificial growth factors evaporate.