From the data, the PMI of ISM is still declining, not only lower than the previous value but also lower than expected, especially with the price payment index reaching 62.4, which may be due to concerns about tariffs. However, the final value of the S&P Global Manufacturing PMI in February in the United States has increased. The comparison of these two data shows that small and medium-sized enterprises have high activity, but large enterprises are facing challenges such as rising costs and reduced orders. PS: The market influence of ISM PMI is stronger, but S&P Global PMI can better predict future manufacturing trends. Nowadays, the recession is mainly seen from two major directions: GDP and unemployment rate. According to the data provided by GDP Now, it is not particularly optimistic about GDP, but the specific data will not be released until April. Therefore, if there is suspicion of a recession trend, it is still relatively good in the short term. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex