The Chicago PMI came in stronger than expected at 57.6 for July, marking its second-highest reading this year. This follows yesterday’s Q2 GDP miss, which printed at 1.5% annualized—down from 2.1% in the first quarter and below the consensus forecast of 1.8%. Looking ahead, US growth momentum will depend to a significant extent on AI capital expenditure, consumer resilience, and the economy's ability to absorb volatility from the global economy and the financial sector. #economy #markets #pmi
Mohamed A. El-ErianShare
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