ISM report suggests US economy “rapidly recovering”; doubts linger

01 July 2020

 

Summary: ISM purchasing managers index jumps above 50; manufacturing back into expansionary territory; implies US economy growing at solid rate; recent US infection rates may prompt “set-backs” in coming months.    US purchasing managers' indices (PMIs) have been sliding since August 2018, albeit from elevated levels. After reaching a cyclical peak in September 2017, manufacturing PMI readings went sideways for a year before they started a downtrend. Readings stabilised in...

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