According to the latest PMI report released on Thursday, the global economy continues its upward trajectory, marking its fifth consecutive month of expansion. Both the manufacturing and service sectors contribute to this growth, with services leading the surge to reach an eight-month high. Notably, emerging economies are experiencing their most rapid growth since May 2023, indicating a robust global economic recovery.
However, there is a caveat: inflationary pressures are on the rise. Prices of goods and services are climbing, particularly within the service sector, while manufacturing prices also show signs of rebounding. This suggests that inflationary concerns may persist despite the overall positive economic momentum.
Despite these challenges, the global PMI has reached a nine-month peak in March, signaling a growth pace consistent with an annualized quarterly GDP of 2.6%. This data, compiled from surveys conducted among businesses across more than 40 countries, offers valuable insights for financial professionals seeking to anticipate future economic trends.
