The global economy continues to cool with China’s purchasing index barely above contraction levels, weekly unemployment claims in the US not only stubbornly high but headed in the wrong direction, and the US ISM weaker than expected. Bloomberg reports China Manufacturing Slows for Second Month, PMI Shows.China’s manufacturing expanded at a slower pace for a second month in June, adding to signs that growth in the world’s third-largest economy is moderating. The Purchasing Managers’ Index …

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China Manufacturing Slows for Second Month; US ISM Weaker than Expected; Weekly Unemployment Claims Stubbornly High; Existing Home Sales Plunge