US PMI back above 50; China to weigh on exports

03 February 2020

 

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. Recent readings appear to have stabilised, albeit at sub-neutral levels. The latest reading marks a return to expansionary levels. According to the latest Institute of Supply Management (ISM) survey, its Purchasing Managers Index recorded...

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