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PMI data indicated that the global economy continued to recover in August, but rising Covid-19 infection rates led to renewed downturns in some countries. More insights into whether the recovery is progressing or fading will be revealed by the September data.
The final PMI numbers will provide more detail on both manufacturing and services conditions in all major developed and emerging markets, including deeper dives into the surveys' trade, order books, employment and price data
Detailed sector PMIs will also add insight into winners and losers: August saw signs of welcome revivals in sectors such as autos, real estate and household goods, but conditions remained especially tough for many other consumer-facing sectors such as tourism and recreation.
Chief Business Economist, IHS Markit