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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.
The worldwide PMI surveys indicated a strengthening of global
economic growth in July, led by rebounding activity from
coronavirus disease 2019 (COVID-19) lockdowns. The JPMorgan Global
PMI™ (compiled by IHS Markit) rose for a third successive month in
July, up from 47.8 in June to 50.8. The latest reading breached the
no-change 50.0 level for the first time in six months to indicate
expanding worldwide output across the combined manufacturing and
service sectors.
The PMI had collapsed to an all-time low of 26.2 in April as
governments around the world took increasingly drastic measures to
contain the COVID-19 pandemic, including the widespread closures of
non-essential businesses and restricting movement and travel. Since
then the PMI has risen sharply as these containment measures have
been eased, though the still-subdued level of the PMI reflects the
fact that some measures remain in place, and recent weeks have even
seen some restrictions re-imposed.
Chris Williamson, Chief Business Economist, IHS
Markit
Tel: +44 207 260 2329
chris.williamson@ihsmarkit.com
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.