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This is what always happens before falling through the floor.

Eurodollar University

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Weak Demand, Consumer as Well as Business Demand

Final sales of domestic product, which means U.S. produced goods and services that are sold anywhere in the world, was just 1.4% in the fourth quarter. And for the entire year of 2022, just 1.3%. So there wasn't recession in 2022 according to this number, but this was a level consistent with an economy transitioning from expansion toward recession. You have weakening demand, both consumer as well as business demand.

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