Commentary

The U.S. Purchasing Manager's Index came in at 50.9 for July, or slightly expansionary. The ISM Manufacturing Index came in at 54.2 for the same period.

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U.S. Durable Goods Orders for June were 7.3% higher, versus having been 15.1% higher in May. Second quarter U.S. GDP was down an astounding 32.9%, after having been down 5.1% in the first quarter.

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U.S. Services PMI came in at 47.9 for June, up from 46.7 in May. The ISM Non-Manufacturing Index came in at 57.1 in June, up from 45.4 in May.

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