USA: manufacturing PMI sinks into negative territory
For the record, it is the 50 threshold that separates expansion and contraction in a sector's activity for PMI indices: the lower the index is below this threshold, the faster the pace of contraction.
The surveyors point to a renewed decline in production against the backdrop of a sharper fall in orders, as well as a pick-up in inflation rates and the sharpest deterioration in employment since June 2020.
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