PMI Pulse: July's Data Wrap

Topline findings

Global economic growth hit a five -month high in July, the PMI signaling GDP growth close to its long -run trend.

Manufacturing continued to outperform services as technology output and machinery production accelerated sharply amid AI - and defense -related demand, though the recent boost from precautionary stock building faded.

Consumer services also revived as lower oil prices and reduced geopolitical uncertainty supported spending, keeping inflation pressures elevated in many economies.

Trends diverged globally, however, with faster growth in the advanced economies (led by the US ) contrasting with subdued emerging markets