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SIJ - Manufacturing And Services: Coronavirus Punishes The Economy
ProShares UltraShort Industrials
A greater impact was seen in the indices for manufacturing and services in April. This was due to the combined effect of the coronavirus and oil price wars that have affected the global and U.S. economies. The PMI came in at a reading of 41.5 in April 2020. This was a large drop from March's reading of 49.1. This reading represents the second straight month of contraction for manufacturing. A value over 50 indicates expansion and a value under 50 indicates contraction. Importantly, the U.S. economy as a whole is now contracting after 131