Wed, 23 Sep 2020

WASHINGTON -- Economic activity in the U.S. manufacturing sector expanded in July amid a resurgence in new COVID-19 infections, the Institute for Supply Management (ISM) reported Monday.

The Purchasing Managers' Index (PMI) stood at 54.2 percent in July, up 1.6 percentage points from the June reading. Any reading above 50 percent indicates the manufacturing sector is generally expanding. (US-Manufacture-PMI)

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BRASILIA -- Brazilian financial analysts for the fifth consecutive week forecast a smaller drop in gross domestic product (GDP) this year, adjusting from a 5.77 percent contraction to a 5.66 percent contraction, the Central Bank of Brazil said on Monday.

Their growth forecast for 2021 remained steady at 3.5 percent, according to the bank's weekly survey of leading financial institutions in Brazil. (Brazil-GDP-Contract)

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ROME -- Italy's manufacturing activity showed a 25-month record high in July, according to a survey released on Monday.

The IHS Markit Purchasing Managers' Index (PMI) grew to 51.9 points last month from 47.5 in June (and 45.4 in May), the highest level recorded since June 2018. (Italy-Manufacture-Survey)

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HANOI -- Vietnam earned nearly 25.7 billion U.S. dollars from exporting phones and components in the first seven months of this year, posting a year-on-year decline of 6.6 percent, accounting for roughly 17.6 percent of Vietnam's total export revenue, according to the country's General Statistics Office on Tuesday.

In July alone, Vietnam fetched 3.7 billion U.S. dollars from selling the products overseas, down 7.1 percent on-year. (Vietnam-Phone Export-Decline)

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