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The Purchasing Managers Index (PMI) data for June 2020 was closely watched for both traders and economists today. It was expected to show further improvement in economic activity. It did not disappoint.
However, looking at details, one should not be fooled by the rebound. Even if and when the PMIs get back into the expansionary territory (above the 50 level), it does not mean that the economy experienced a V-shape recovery. It only shows growth…
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