June PMI surveys suggest weak growth and a risk of recession

Monthly GDP growth

Monthly growth implied by PMIs

Quarterly GDP growth

0.6%

0.4

0.2

0

-0.2

-0.4

2016

2017

2018

2019

Monthly GDP growth

Monthly growth implied by PMIs

Quarterly GDP growth

0.6%

0.4

0.2

0

-0.2

-0.4

2016

2017

2018

2019