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The following is an extract from IHS Markit's monthly PMI
overview presentation. For the full report please click on the link
at the bottom of the article.
Global PMI slips from 15-year high in June
The global economy expanded at a solid rate again in June,
according to the JPMorgan Global PMI™ (compiled by IHS Markit).
Although the rate of growth slowed slightly, the improvement was
still among the strongest recorded over the past 15 years. The
latest expansion took the recent run of growth into its twelfth
consecutive month.
The global expansion was again led by the service sector, which
outperformed manufacturing for a third successive month despite the
rate of increase easing compared to May's 15-year peak.
Manufacturing also continued to expand at a strong rate (enjoying
one of the best performances for over a decade), though likewise
saw a modest cooling in the rate of growth.
The outperformance of the service sector throughout the second
quarter has coincided with COVID-related restrictions easing
globally on average to the lowest since the pandemic began, albeit
with marked variations by region.
Chris Williamson, Chief Business Economist, IHS
Markit
Purchasing Managers' Index™ (PMI™) data are compiled by IHS Markit for more than 40 economies worldwide. The monthly data are derived from surveys of senior executives at private sector companies, and are available only via subscription. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.
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