US economic downturn eases in June as lockdowns lift
Last updated 6/26/2020 at 12:58am
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...