Slower Global Economy?
The JP Morgan Global Manufacturing PMI published by Markit.com showed a continuation of a slowing pace of growth in September.
A PMI above 50.0 signals growth for an economy relative to the PMI’s base (Composite or Manufacturing or Services). A reading below 50.0 suggests contraction. Monthly PMIs are available for several countries and regions. QR’s stance is that a reading of 45.0 or lower for the US PMI would signal a recession environment.