Denmark’s manufacturing PMI fell precipitously from 70.0 to a 27-month low of 38.0 in July. While Denmark's PMI is extremely volatile, this was its largest fall since 2008. And given that Denmark is a very open economy, it is a worrying sign about the health of the global economy. Meanwhile, the PMIs showed that price pressures are easing in Sweden and Switzerland which suggests that inflation will start to fall back over the coming months.
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