Global PMI data shows mixed economic expansion in August

Global preliminary Purchasing Managers' Index (PMI) data for August indicates varying levels of economic activity across major regions.

In the United States, the composite PMI reached a 20-month high of 56.0, driven by a surge in the services sector (56.8) which offset a slight dip in manufacturing (53.2).

In Japan, both manufacturing (55.1) and services (52.3) indices rose, supported by high demand for semiconductors and AI-related technologies. India reported a composite PMI of 54.6, with manufacturing showing stronger growth than services. Conversely, Australia saw a slight deceleration in its composite PMI to 52.5.

In Singapore, manufacturing growth reached its highest level since November 2018, with the PMI rising to 51.3. This growth is being fueled by the electronics and precision engineering sectors, increasing demand for R&D facilities and advanced production infrastructure.