Global PMI Hits Joint-Highest Since 2021 As Economic Expansion Reaches All Sectors

The global Purchasing Managers' Index (PMI) hit a joint-highest level since 2021 in August, indicating strong economic expansion across all sectors.

The PMI for manufacturing reached 52.8, up from 52.2 in July, while the services PMI rose to 53.7 from 52.7.

The strong PMI readings suggest that the global economic recovery is gaining momentum, despite ongoing challenges such as inflation and supply chain disruptions.