AFMC - Global PMI Upturn Cools From One Year High As Outlook Darkens

2024-07-06 01:50:00 ET

Summary

• Global economic growth slowed in June but remained the second-strongest seen for just over a year, according to PMI data, pointing to a further robust expansion in the second quarter of 2024 after the slowdown seen in late 2023.
• The US bucked a broader developed world slowdown, with output growing at the steepest pace since April 2022. US services activity growth hit a 26-month high, offsetting cooler manufacturing growth.
• India again led the four BRIC economies by a wide margin, with growth re-accelerating from an election-related dip in May to one of the strongest seen over the past 14 years.

Global economic growth slowed in June but remained the second-strongest seen for just over a year, according to PMI data, pointing to a further robust expansion in the second quarter of 2024 after the slowdown seen in late 2023. June saw a further slight acceleration of growth in the US, bucking a broader developed world slowdown, while India continued to lead the emerging markets by a wide margin....

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