Global PMI Monitor

Latest edition · August 5, 2026

Global PMI Monitor DM Services Outperform

The global economy saw a modest uptick in July composite PMI to 52.6, characterized by robust service sector growth in Developed Markets despite weaker EM service activity and mixed manufacturing results.

Global economic activity as measured by composite PMI reached 52.6 in July, supported by a 0.8pt gain in services that outweighed a 0.1pt decline in manufacturing. A notable regional divergence persists: Developed Market service PMIs rose sharply, while EM services retreated. Country-level data highlights growth in the US and Euro area manufacturing, contrasting with China's stagnation. Inflation components suggest some cooling in manufacturing input prices, even as forward-looking indicators remain generally resilient.

Key takeaways from the latest edition

• 1.Global composite PMI rose to 52.6 in July, driven by a rise in services (+0.8pt to 52.5) offsetting a slight manufacturing decline.
• 2.Developed Market (DM) services activity strengthened significantly (+2.6pt), while Emerging Market (EM) services activity weakened (-2.6pt).
• 3.Manufacturing PMI trends show divergence: growth in the US and Euro area, but contraction or stagnation in China.

What this series covers

• Global trends
• Major economy-level trends
• Country-level trends
• Activity components
• Inflation-related components
• Trade-related components
• Analysis of PMIs From Our Economics Team

Edition archive

• Global PMI Monitor DM Services Outperform

  August 5, 2026

• Global PMI Monitor Elevated Manufacturing Suppliers' Delivery Times

  July 24, 2026

• Global PMI Monitor: Strong Manufacturing New Export Orders in Mexico

  July 6, 2026

• Global PMI Monitor US Manufacturing Recovers

  June 4, 2026

• Global PMI Monitor Softness in European Activity

  May 24, 2026