Overview
- Global private-sector activity strengthened after Friday's flash PMI releases showed broad expansion driven by services in the United States and the UK and by factories in Japan, Germany and parts of the euro zone.
- The U.S. composite PMI rose to 56.0, its highest since April 2022, with the services PMI at 56.8 and a marked pickup in hiring and new business.
- Japan's manufacturing PMI jumped to 55.1 with new orders at multi-year highs, while Germany's factory PMI climbed to 54.1 even as its services sector contracted.
- India's composite recovered to 54.6 on a rebound in services even as manufacturing slipped to a five‑year low of 52.9, and Australia stayed in expansion at 52.5 but saw input costs reaccelerate, squeezing margins.
- Price trends diverged across regions: input-cost inflation eased in places such as the U.S. and euro zone but rose in Australia, and renewed Middle East-related shipping risks have encouraged precautionary stockbuilding that could keep inflation and policy risks elevated.