Business activity in the United States, as measured by purchasing managers index (PMI) data, hit a four-month high, reflecting the lifting of lockdowns and fueling hopes that the economy is roaring back to life.
IHS Markit, which released its PMI numbers on June 23 (pdf), 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 end.
