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ACWI - Q2 2019 BRIC PMIs: The Bad The Ugly And The Uglier Still
iShares MSCI ACWI Index Fund
BRIC PMIs for June are out and with them we have 2Q 2019 figures, and the story they tell is two-fold:
Fold 1: There is an ongoing Global-scale slowdown in the economy that is broad, sharp and testing the waters of a mild recession approaching.
Fold 2: The BRICs are barely providing any upside support to the global momentum.
Take Manufacturing:
This is simply the 'Uglier' side of the ugly. Global Manufacturing PMI hit 49.8 in 2Q 2019 - statistically, zero growth level, nominally - a manufacturing recession ward, albeit a very shallow one. More