Part 5/12:
The details of the survey echo other economic indicators, including a disappointing performance from the stock market. The S&P 500 recently hit correction territory with a 10% decline from its previous peak. Added to this, layoff announcements have surged to their highest levels since the summer of 2020, raising concerns about future unemployment rates. Such layoffs generate further uncertainty, as businesses, even those in the private sector, may hesitate to invest or hire, contributing to a vicious cycle that exacerbates economic stagnation.