[REVISION HISTORY]

Mixed global PMI trends in manufacturing and services

Updated 39 times since CLSTR started tracking revisions of this situation.

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2026-09-04 21:50 UTC → 2026-09-04 23:32 UTC · added ~~removed~~

Global manufacturing and services trends remain varied. In August, the J.P. Morgan Global Manufacturing PMI rose to a three-month high of 52.3, marking 13 consecutive months of expansion. While new export orders rose at their fastest pace in six months, trade volumes declined in the US, Canada, and Mexico. In the United States, manufacturing momentum has fluctuated. The ISM Manufacturing PMI declined to 54.6 from a July high of 55.6, attributed to a decrease in the front-loading of orders. Conversely, US services remain strong; the S&P Global composite PMI reached a 52-month high of 56 points, and the ISM Services PMI rose to 55.4, marking 26 consecutive months of expansion despite concerns over high input costs. Recent data confirms this expansion, with the S&P Global Services PMI reaching 56.8. In August, the ISM non-manufacturing PMI rose to 55.4, supported by robust demand, though employment remained weak and price pressures persisted. Regional data shows significant divergence. The Eurozone composite PMI remained in expansion territory at 52.0, supported by a services PMI of 51.6, though rising company costs and selling prices have reached three-month highs. In contrast, France experienced an acceleration in private sector contraction, with its composite PMI falling to ~~48.5 and its services sector marking its eighth consecutive month of contraction.~~ 48.5. Other regional highlights include India’s HSBC Services PMI rising to 54.1, supported by job creation reaching a 15-month high, and Japan’s S&P Global services PMI rising to ~~52.5, though export business contracted. Japan’s services sector also expanded at its fastest pace in five months.~~ 52.5. China’s private sector services PMI rose to 51.4, supported by domestic demand. Mozambique reported a multi-year high in business activity with a PMI of 51.9, driven by output, new orders, and employment in construction. Recent reports indicate further complexities.

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