Further deterioration expected after US manufacturing PMI slips

03 June 2019

 

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. The latest reading has not done anything to end this. US manufacturing activity slowed in May to a level last seen in late 2016. According to the latest Institute of Supply Management (ISM) survey,...

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