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More evidence that the cheap US dollar is good for manufacturing

The ISM manufacturing PMI came in well above consensus at 58.8 for August (vs. a forecast of 56.5). The manufacturing employment PMI was even higher, at 59.9. This is consistent with the 36,000 increase in manufacturing employment in August, the biggest increase since March 2012. The dollar’s strength during 2014 and 2015 was a depressant […]