Is It a Recession or a Slowdown?

Some companies have been either hard or hit by macoro economic conditions, or had their own idiosyncratic reasons for under performing. Like retailers, they just overdid it with the inventory. Travel related cross boarder volume was a hundred four % of what it was in c three 20 19 or c two 20 19. I think hilton sa the sam thing, theyave never been busier.