2024-07-08 13:30:00 ET
Summary
- Underpinning the latest reduction in global trade was a renewed fall in manufacturing new export orders.
- Service sector export business remained in expansion, though at a softer pace compared to May.
- More detailed PMI data revealed that the top five sectors that led the expansion in export business were all service sectors, headed by the insurance and software & services sectors.
- June Manufacturing PMI data revealed that the expansion in global goods trade was limited mainly to emerging market economies among the top 10 trading nations.
The worldwide Purchasing Managers' Index (PMI) surveys compiled by S&P Global Market Intelligence indicated that global trade deteriorated in June for the first time in three months, albeit only marginally....
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Global Trade Conditions Deteriorate Marginally In June