So, last week’s sharp rise in the Purchasing Managers’ Index (PMI) for manufacturing wasn’t a freak. This morning its twin, the PMI for the much larger services sector, also showed a huge rebound to 52.9, more than reversing the fall to 47.4 in July and putting it marginally ahead of PMI for the Eurozone, which stands at 52.8.

G20 leaders have fallen for Project Fear

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