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In Monday's US data flow we have a surprise drop in the May ISM manufacturing index to 48.7 from 49.2 (consensus 49.5) – remember that anything below 50 is a contraction. Regional surveys and the Chinese PMI, which we use as a guide for what may be happening on the West Coast in the absence of regional surveys for that part of the US, had suggested the ...
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U.S. exports of liquefied natural gas (LNG) rebounded in May as Freeport LNG, the country’s second-largest exporter of the superchilled gas, returned to full production and as more supplies flowed to Asia, preliminary data from LSEG showed. The U.S. is the world’s largest exporter of LNG and a key supplier to Europe since Russia’s invasion of Ukraine, but ...