Title: Q3 Economies in Flux: Drive Decisions with the Purchasing Managers' Index™
Duration: 1 hour
Join our Chief Business Economist, Chris Williamson, to get a timely update on the global economic landscape through the lens of the latest Purchasing Managers' Index™ (PMI) surveys. The PMI™ data provides insight into the health of economies worldwide, with key economic indicators giving you unique insight on where economies and markets are headed. These findings are derived from surveying over 30,000 companies per month across 40 countries worldwide, accounting for 90% of global GDP.
Recent data have shown a cooling in the paced of global economic growth after a better than expected second quarter. However, we had warned that this upturn had been fuelled by surprising resilience of consumer-facing services and financial services, both of which looked vulnerable to slowdowns given policy tightening and the higher cost of living squeeze. There is now evidence of these squeezes having a material impact on demand and economic growth.
Meanwhile, price pressures have cooled further, through there remain signs of stubbornly high inflation pressures in the service sectors, in turn emanating from wages. Getting inflation rates below 3% may prove difficult in this environment.
August’s PMI data will help further assess the developing situation.
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