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How to interpret the PMI indexes in 2020?
After record falls in March and April in Europe and the US, purchasing managers' confidence picked up in May and again in June. The fall is not far from being erased, but this does not mean that the shock to the real economy has been fully overcome. The coronavirus crisis was so brutal that it (temporarily) undermined the historical relationship between confidence levels and the pace of activity. The business climate is rebounding as the epidemic has receded from its peak, allo...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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