Flash PMIs Signal Stagflation Among The Major Developed Economies As Growth Falters Amid Price Hikes
Recent flash PMI data indicates that major developed economies are experiencing stagnation as growth slows down. This trend is exacerbated by rising prices, which are impacting business activity. The ongoing geopolitical tensions, particularly the conflict in the Middle East, are contributing to these economic challenges.
- ▪S&P Global's flash PMI surveys show business growth grinding to a halt in May.
- ▪The ongoing war in the Middle East is exerting a growing toll on economic activity.
- ▪Rising prices are contributing to the stagnation observed in major developed economies.
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