June Big-8 PMIs tick up; but smaller econs slide

 Big 8 PMIs (US, UK, Euro Area, Japan, China, India, Brazil, Russia -- 70% of the world economy)  ticked up in June.   The averages are still above the 50% "recession line", but not by a lot.  

Europe is key to this:

But smaller economies continue to slide deeper into recession.   The gap between the big 8 and the small 15 (12% of world GDP)  is the biggest in 22 years.

The huge horrible hateful bill may give a short-lived sugar hit to the economy, but then again, it may not.   Billionaires are not known for their high propensities to consume, except perhaps on weddings in Venice, and taxes on ordinary people are going up.  And the backdrop to all this is higher tariffs, which affect the lower paid much more than the rich, plus the shrinking of the agricultural and food labour force, plus the uncertainty about what next Trump will do next.  A US recession still seems likely, but Europe may avoid it.  

Incidentally, Russian stats are in free fall.  Despite their massaging the data.