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Although the May PMI figures for a swathe of advanced economies are still well below the 50-no change level, we are cautiously optimistic that output will stage a modest rebound this month
Global Economic Trends . With some exceptions, lockdowns have not yet been eased significantly. But timely alternative data point to changes in people’s behaviour that could spur activity. The Dallas Fed’s social distancing indicator suggests a peak in late April in the US. Apple and Google mobili...