Posted 4/2/2024, 6:51:00 PM
US manufacturing rebound pushes back recession fears to 2025
- Fears of a recession may be pushed back to 2025 due to rebound in US manufacturing activity in March
- JPMorgan note highlights unexpected strength in ISM manufacturing data, ending 16-month decline
- Global PMIs also reflecting higher, suggesting strength not limited to US factories
- If recession pushed to 2025, would represent another year economists' predictions were off
- JPMorgan not worried about high rates scenario given strong labor market indicators