Global PMIs, June 2014: Accelerating Growth
| Jul 10, 2014 12:22AM ET
Last week was a holiday week, so I didn’t get a chance to post the Global PMI data as I usually do each month. I had a reader ask for it though, so here’s an updated snapshot of the data from last week.
Overall the data was pretty strong. Both the manufacturing and service composites increased from May, which implies that global growth accelerated in June.
The services composite showed a particularly large increase. This was driven by three of the four BRICs. India’s service PMI was especially strong and suggests that that economy may be finally exiting a period of weak activity.
On the manufacturing side, three countries moved from contraction to expansionary readings. Importantly, China was one of those countries. If the Chinese economy regains its footing then the global economic picture could change significantly.
Disclosure: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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