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UXI - Manufacturing And Services Are Bouncing Back
ProShares Ultra Industrials
U.S. Manufacturing
The COVID-19 pandemic damaged the U.S. economy, but as states and businesses have reopened, this has resulted in the economy bouncing back. The PMI came in at a reading of 52.6 in June 2020. This was much better than May’s reading of 43.5. After large contraction from March to April and a bottom in April/May, the U.S. manufacturing sector is seemingly bouncing back quickly. A value over 50 indicates manufacturing expansion and a value under 50 indicates manufacturing contraction. More manufacturing sectors are expanding than contracting now, which is a good sign. However,