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by Tyler Durden
Tuesday, Jul 06, 2021 - 07:20 PM
Two months ago, a forward-looking Wall Street responded to the Bank of America Fund Manager Survey for the month of May, and concluded that the peak of the post-covid expansion was now behind us, whether looking at growth expectations.
. profit margins expectations (46% to 26%).
. capex spending plans (54% to 51%).
. and inflation (93% to 83%).
Of course, these forward-looking expectations needed some hard data validation which they got today when the latest data confirmed that the Global Manufacturing PMI has now peaked.
As DB s Frances Yared writes, the Global Manufacturing PMI was running ahead of leading indicators (key exporters such as Taiwan, Chile and South Korea). Well, the latter indicators had been consistent with the Global PMI Manufacturing at 54 rather than the 56 observed at the peak last month. But the reversal is finally here, and the latest Global PMI print declined by 0.5pt in July and, based on the aforemen
(Partner Content) The rand continued its forward momentum this last week, on the back of US weakness. While the dollar Index ended the week flat, the ZAR managed to find further support against developed market currencies.
İSO Türkiye İmalat PMI Mayısta 49,3 oldu yeniakit.com.tr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yeniakit.com.tr Daily Mail and Mail on Sunday newspapers.