Recall that on 1 April I noted that AIG’s Performance of Manufacturing Index (PMI) gauge had soared to 58.1, the highest reading in twelve years.
A figure of above 50 denotes expansion, so 58.1 really is quite a huge reading.
Still even today the gauge is comfortably in expansion territory at 54.2.
The funny thing is that, as far as I can tell, nobody even noticed, because by the time the figures were reported most people were well esconced in Ryan’s Bar (or their home city’s equivalent) celebrating the silly season.
Where were these manufacturing jobs?
Work to be done
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