Global Macro Monitor

QOTD:  Quote of the Day

People are really bad at thinking about exponential curves. – Sam Altman, Open AI

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