The global economy is losing momentum even before tariffs hit

Carlos Barria/Reuters

• PMI reports are regarded as being as good an indicator as any on the health of the global economy.
• In June, new exports orders from China, Japan and the ASEAN regional all declined, pointing to a softening in global demand.
• The United States is set to slap 25% tariffs on $ 34 billion worth of Chinese imports from Friday, increasing the risk that global demand could weaken further.

If you’re looking for clues on how the global economy is faring right now, there are few better lead indicators out there than purchasing managers indexes, or PMIs for short.

Arriving at the start of each month, they provide a real-time snapshot of what firms are seeing on the ground, providing an early indicator on what the hard data may show when released in the months ahead.

See the rest of the story at Business Insider

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