Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.
The following is an extract from S&P Global Market
Intelligence's latest Monthly PMI Bulletin. For the full report,
please click on the 'Download Full Report' link.
The global economy expanded for a twenty-second straight month*
in April, according to the JPMorgan Global PMI™ (compiled by
S&P Global), though the rate of growth eased to the slowest in
the current sequence amid a steep downturn in China.
While global service sector business activity remained in
expansion, supported by stronger consumer spending amid the easing
of global COVID-19 containment measures, manufacturing output
recorded its first contraction since June 2020 on the back of
supply woes. Steep contractions, particularly in Russia and
mainland China, played the key roles in weighing on global growth.
This was despite better output performance in other emerging
economies such as India and Brazil, while developed economies
including the US, eurozone and UK generally maintained strong
growth paces, benefitting from reduced pandemic containment
measures.
As a result of the Ukraine war and lockdowns in China, issues
with supply chains and inflation worsened at the start of Q2.
Average supplier delivery times lengthened at a rate exceeded only
once in the history of the PMI surveys, outlining the supply woes
which were aggravated especially by the lockdowns in China. In
turn, inflationary pressures soared with global input prices across
manufacturing and services rising globally at the fastest rate
since mid-2008 while average selling prices for goods and services
rose at a survey record rate. All of which continues to support
policy tightening by central banks, albeit at a time when demand
growth continues to wane.
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.
