Greatest Convergence of U.S. and Euroland Manufacturing Since January 2018

The U.S. ISM-compiled purchasing managers index dropped 0.8 points to a 7-month low of 50.1 in February. Such a level connotes stagnant growth in factory output and historically has been also consistent with real GDP growth of about 2.1%. The composition of the report was more concerning than the aggregated index. Imports, which affect GDP […]

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