US PMI surge suggests Fed may need to tighten rather than ease

US flash PMI survey showed the sharpest manufacturing rebound in over three years, as the index jumped from 49.8 to 53.3. Services held firm at 55.4, down slightly from 55.7, lifting Composite PMI to an eight-month high of 55.4. The data point to an economy expanding at a 2.5% annualized pace, well above the average […]

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