EN United States Financial Advisor
Macroeconomic & Geopolitical

Consumers are Betting on Herd Immunity

18 June 2020 - 3 min read

There is much optimism in a rebound in PMIs, but the fear of a second wave is in the back of many minds. Trade deals continue to come about.


Arrows indicate consensus forecast compared to the previous period. Local dates of release.


  • Markit flash PMIs will give a glimpse of how the recovery is unfolding in June. High frequency data has pointed to faster-than-expected rebounds in consumer spending and the auto sector.
  • Personal spending, along with positive retail sales and daily card data, is expected to improve in May. However, personal income should take a step back given the timing of stimulus checks and elevated unemployment.


  • Markit flash PMIs across most of developed Europe are expected to rebound amid economies reopening and activity moving from their depressed levels.

Asia Pacific

  • The PBOC is expected to keep the one- and five-year loan prime rates steady at their meeting on Monday, but stimulus measures are likely as China deals with weak external demand.
  • Japan flash PMIs should indicate how services and manufacturing sectors are performing following the lifting of restrictions across the country.

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