Business activity in the United States fell in November for the fifth consecutive month, with the manufacturing and service sectors registering declines according to a recent report by S&P Global.
The current economic conditions in the U.S. are also affecting Wall Street firms, where some workers will see bonus cuts with the potential for layoffs.
A first read on US economic growth last quarter, due out Thursday, will amplify an ongoing debate over whether the country is, or will soon be, in recession.
JP Morgan CEO Jamie Dimon has warned about a potential economic slowdown while noting that the American economy is growing, and both the job market and consumer spending remain healthy.