Flash @IHSMarkitPMI surveys show global economy on road to recovery from pandemic. The G4 economies’ flash #PMI output index rose from 46.5 in June to 51.1 in July, up further from an all-time low of 21.5 in April. Read more at bit.ly/3eTVFZP 
@IHSMarkitPMI The statistical historical relationship of the flash PMI with global #GDP suggests that the latest reading is broadly consistent with the global economy growing by 2% on a year ago, up from a signal of 0.2% growth in June.
@IHSMarkitPMI Output has risen in both manufacturing and services on aggregate among the G4 economies (US, UK, Japan, Eurozone)
@IHSMarkitPMI But as this chart shows, there's a big variance between countries. Strong growth in the UK and Eurozone accompanies by mere stabilisation in the US and ongoing decline in Japan (albeit easing)
@IHSMarkitPMI Stronger performance reflects easing of lockdowns (chart shows PMI output against change in global COVID-19 containment measures), so rebound may not last unless demand picks up
@IHSMarkitPMI Note how US new orders growth faltered in July (especially evident in services) as lockdowns were reintroduced in some states
@IHSMarkitPMI The future path of demand will likely be heavily affected by labour markets, and worryingly the PMI shows firms still cutting headcounts on aggregate in the major developed economies in July
@IHSMarkitPMI Only in the US did the job market stabilise, with increased rates of job cutting seen in both the UK and Japan. Of the four economies, the UK saw by far the steepest rate of job losses.
