Both ISM indices will probably show ongoing contraction in March |
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Deterioration in labour market conditions is likely to have continued in March The Chicago PMI plummeted by seven points to 44.5 in February, well below the expansion threshold. As this indicator is quite volatile, it could have bounced back somewhat, but at 46.5 it would still indicate economic contraction in March. The ISM manufacturing index fell to 48.3 in February, the second reading below 50 in three months. In March, the results of the first two manufacturing indices were not Read More...
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