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.
Global PMI rises but also brings signs of slower future growth
At 54.0 in May, the headline JPMorgan (NYSE:JPM) Global Composite PMI, compiled by IHS Markit, rose for a second successive month. Although remaining below the highs seen earlier in the year, the survey data are consistent with global GDP rising at a reasonably solid annual rate of just over 2.5% (at market exchange rates) so far in the second quarter.
Growth may slacken off in June, as new order inflows grew at the joint-slowest rate seen over the past seven months, and backlogs of work grew at a slightly reduced rate. Companies meanwhile took on staff at the slowest rate since last October, in part due to future expectations of growth slipping. However, while all key indices other than output edged slightly lower in May, all remained in positive territory and matched or bettered the averages seen over 2017. As such, the surveys indicate few significant downside risks to the immediate global outlook.
Disclaimer: The intellectual property rights to these data provided herein are owned by or licensed to Markit Economics Limited. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without Markit’s prior consent. Markit shall not have any liability, duty or obligation for or relating to the content or information (“data”) contained herein, any errors, inaccuracies, omissions or delays in the data, or for any actions taken in reliance thereon.
In no event shall Markit be liable for any special, incidental, or consequential damages, arising out of the use of the data. Purchasing Managers' Index™ and PMI™ are either registered trademarks of Markit Economics Limited or licensed to Markit Economics Limited. Markit is a registered trade mark of Markit Group Limited.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI