A Trade War Truce Could Be Imminent
Frank Holmes joined Nancy Hungerford on CNBC Asia to discuss his outlook for global growth and thoughts on the U.S.-China trade negotiations taking place this week.
Frank Holmes joined Nancy Hungerford on CNBC Asia to discuss his outlook for global growth and thoughts on the U.S.-China trade negotiations taking place this week. Frank points out that purchasing manager’s index (PMI) data for China has been trending down, and has fallen below the 50 level that separates growth from contraction. Due to China’s manufacturing industry slowing, Frank believes that the world’s second largest economy has reason to negotiate with the U.S. to create a more level playing field when it comes to trade and tariffs.
For Frank’s full take and thoughts on how the trade war has impacted American consumers, watch the replay by clicking the button below.
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The Purchasing Manager’s Index is an indicator of the economic health of the manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.