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Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.
Data is given to Thomson Reuters subscribers 2 minutes before the public release time listed on the calendar - early market reaction is usually a result of trades made by these subscribers. Above 50.0 indicates industry expansion, below indicates contraction.
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
The previous data was 49.6, the market waited for 49.5 and the result is 48.4.
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