By Prieur du Plessis Despite the markets showing their dismay when the manufacturing PMIs for May were published, the pace of expansion in the global economy has actually picked up! The JPMorgan Global Composite PMI, which takes the manufacturing and non-manufacturing/services into account, rose to 52.6 from 51.8 in April (a number above 50 indicates expansion) as the turnaround of Japan since the twin disaster seems to be lending solid support. Sources: ISM, Markit, CFLP, Plexus Asset Management. GDP-weighted/ Composite PMIDirection Rate of…
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