Monthly PMI Bulletin: August 2021

The following is an extract from IHS Markit's latest Monthly Bulletin. For the full report, please click on the 'Download Full Report' link.

The global economy expanded at a solid rate again in July, according to the JPMorgan Global PMI™ (compiled by IHS Markit). The rate of expansion, however, slowed further from the 15-year high seen in May.

Both manufacturing and service sectors saw growth moderating in July. Services continued to hold the lead as global COVID-19 restrictions eased on average to the lowest since the pandemic began in July.

Manufacturing output meanwhile sustained in expansion at an above-average rate in July, but saw a host of supply-side constraints, such as input shortages, which were only further aggravated by the spread of the Delta variant, particularly across the APAC region.

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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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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.