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JOYY - U.S. Manufacturing Production Hit By Omicron But Survey Gauges Differ On The Scale Of January Slowdown
Infusive Compounding Global Equities ETF
The IHS Markit manufacturing PMI for January showed output growth deteriorating markedly.
The ISM output index has averaged 57.5 over the past six years while the IHS Markit index has averaged just 53.4.
We remain uncertain as to what has caused the ISM survey to overstate official data, but it is clear that some allowance should be made by analysts when interpreting these survey data.