Indeed, the Global Purchasing Managers' Index (PMI) for manufacturing has been below the 50 mark and continued to decline since May 2019 -- that is, four consecutive months -- while the U.S. ISM Manufacturing Index also fell below 50 in August for the first time since August 2016 -- that is, about three years.
Three targets can be achieved: •  Banks’ risks and asset quality are assessed in a comprehensive manner at the Banking Union level. Assessments are made applying common definitions, not allowing for diverging national interpretations. •  Sufficient corrective measures can be guaranteed as the ECB in its supervisory role will have all the necessary supervisory powers.