180 Ark Investment Management CEO Cathie Wood highlighted her observations on an economic trend that appears to be flying under the radar of government statistics. Wood emphasized the fragility of the current economy, suggesting that it is more precarious than official figures indicate. She pointed out that government statistics may not fully capture the extent of the weakness in the economy, citing instances of companies reporting significantly low revenues. For example, United Parcel Service, Inc. (UPS) witnessed a delivery volume growth that is worse today than during the 2007-2009 period, dropping another -11% in the last quarter after a continuous decline over nearly two years. Wood further illustrated her concerns by referencing 3M Co (MMM) as an “economic bellwether,” noting a 3% decline in its global organic sales year-over-year in the previous quarter. She suggested that this decline might signal potential challenges for the services sector, particularly in the context of ongoing global monetary tightening. Contrasting the government’s optimistic view on U.S. employment, Wood pointed to factors such as labor hoarding after prolonged vacancies as a demand-side issue and the loss of purchasing power, especially in food and energy, as a supply-side concern. Elon Musk, the CEO of Tesla Inc, engaged with Wood’s insights, expressing interest in her perspective on the matter. Despite her notable investment in Tesla and her advocacy for AI and automation, Wood’s recent financial decisions, including the sale of substantial Tesla and NVIDIA Corp (NVDA) shares, have generated interest and discussion within the investment community. You Might Be Interested In Coca-Cola Continues Dividend Streak with 62nd Annual Increase Leveraging Singapore Fintech for Sustainable Impact Peso weakens anew vs dollar following BSP’s policy decision Surge in IPOs Fueled by Investor Confidence in India Global Billionaires Urge Higher Taxes on Wealth at World Economic Forum USAA Offers Financial Assistance to Members Affected by Potential Government Shutdown