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US economic downturn eases in June as lockdowns lift


Last updated 6/26/2020 at 12:58am

In this June 11, 2020, file photo, workers on scaffolding lay blocks on one of the larger buildings at a development site where various residential units and commercial sites are under construction in Cranberry Township, Butler County, Pennsylvania. AP photo/Keith Srakocic, file photo

Tom Ozimek

The Epoch Times

Business activity in the United States, as measured by purchasing managers index data, hit a four-month high, reflecting the lifting of lockdowns and fueling hopes the economy is roaring back to life.

IHS Markit, which released its PMI numbers Tuesday, June 23, said all four measures of U.S. business activity that it tracks showed a significant rebound in June. Despite contracting for a fifth straight month, the pace of decline of business activity eased substantially and above expectations, supporting the view that the pandemic-driven recession is drawing to an...

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