Wednesday, June 20, 2012

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.

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