Overview
- On Monday, final July PMI releases painted an uneven picture with the Institute for Supply Management reporting the U.S. manufacturing PMI at 55.6 while S&P Global and national surveys showed softer readings for major exporters.
- U.S. factories surged as strong new orders, stock rebuilding and AI‑related investment lifted activity and employment to the best levels since 2022.
- China’s private S&P‑compiled PMI slipped to 50.9 and an official Chinese survey showed factory activity in contraction, signaling weakening momentum and slower new‑order growth.
- India’s HSBC/S&P PMI cooled to 53.5, its weakest since August 2021, with domestic demand and hiring slowing even as exports provided some support.
- Euro zone output hit multi‑year highs largely because firms cleared backlogs while companies across regions front‑loaded purchases in response to Gulf shipping snarls and higher energy costs, a dynamic that complicates central‑bank decisions and risks leaving growth fragile once inventory boosts fade.