ISM PMI back to 2019 level but employment still contracting

03 August 2020

 

Summary: ISM purchasing managers index moves further above 50; result exceeds expectations; manufacturing back into the expansionary territory; implies the US economy again growing at solid rate; employment still contracting.   US purchasing managers' indices (PMIs) reached a cyclical peak in September 2017 before they started a downtrend which stabilised in late 2019 after a truce of sorts was made with the Chinese regarding trade. March’s report signalled a contraction...

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