Global Macro Monitor

Conditions in the global manufacturing sector worsened at the end of the second quarter. June saw output fall back into contraction territory following a further decrease in new order intakes. This led to a more cautious approach from manufacturers, with purchasing cut back sharply, inventory destocking, employment broadly flat and business optimism dipping to a seven-month low.

The J.P.Morgan Global Manufacturing PMI™ – a composite index produced by J.P.Morgan and S&P Global in association with ISM and IFPSM – posted 48.8 in June, a six-month low and down from 49.6 in May. The PMI has signalled a worsening in operating conditions for ten consecutive months. – S&P Global

Alef Aeronautics’ flying car has been given a special airworthiness certification from the Federal Aviation Administration (FAA), meaning the company will be allowed to road/air test the car, the company said in a news release. 

The fully electric vehicle (with a hydrogen option for a higher price) is a low-speed vehicle that can be driven up to 200 miles on public roads and fits into a regular garage, but it can also launch vertically into the air with a flying range of 110 miles, according to Alef’s website.

The company’s “Model A” car “can fly forward above the obstacles until a desired destination is reached,” the San Mateo-based company says. “The driver and the cabin are stabilized by a unique gimbaled rotating cabin design.” – Fox Business 

“In the United States, around 40 percent of college students report being to depressed to function on most days.”

COTD = Chart of the Day

If you happened to miss it, I highly recommend watching this insightful interview conducted by Michael Smerconish with NYU Professor Scott Galloway. Professor Galloway is an exceptionally intelligent and wise individual, offering up some valuable advice for recent graduates. Smerconish is no less impressive himself.

Click here to view the full interview (9 minutes).