US Already In Recession?
In nominal GDP terms, the US is already in recession territory.
Last month, the flash reading came in at 48.7, well below a reading of 50 which indicates a contraction.
China's official PMI also fell in May, but at 50.4 stayed marginally above the contractionary level.
The flash number focuses more heavily on small-and-medium enterprises (SMEs) than the official index. It is released a week before the official reading.
Read more: http://www.businessinsider.com/china-flash-pmi-2012-6#ixzz1yOTftxZP