The ISM's purchasing managers index for services providers fell to 50.0 in September from 52.0 in August. Economists expected it would remain at the same level of expansion. ...

Summary of Key Points from the Conference Call Industry Overview - The report focuses on global economic indicators, particularly in the context of the services and manufacturing sectors, as well as retail sales trends. Core Insights and Arguments - **Global Services PMI**: The global services PMI in August was above its solid average from the past few years, indicating resilience in the services sector [1][4] - **Global Manufacturing PMI**: The global manufacturing PMI reached its highest level in over a year, suggesting a positive trend in manufacturing activities [1][4] - **Retail Sales**: Retail sales in the US have shown surprising strength, performing well globally despite challenges [1][4] - **Global Exports**: Although global exports have declined from recent peaks, they remain elevated compared to last year's figures, despite high US tariffs [1][4] - **Forward-Looking Trade Indicators**: New export orders are in contraction for most major economies, indicating potential future challenges due to "payback" from US frontloading of purchases and tariff-related issues [1][4] Additional Important Content - **Economic Resilience**: The overall resilience observed in Q3 is highlighted, with various indicators suggesting a mixed but generally positive outlook for the global economy [1][4] - **Potential Risks**: The report warns of potential strains in global trade, emphasizing the need for monitoring forward-looking indicators closely [1][4] - **Data Sources**: The insights are derived from Citi Research, S&P Global, and Haver Analytics, ensuring a robust analytical foundation [1][4]

V i e w p o i n t | 13 Aug 2025 03:00:00 ET │ 30 pages Global Economics Global Indicators July Chartbook: The World in Pictures CITI'S TAKE Our global indicators chartbook highlights continued resilience in services sectors as high tariffs create challenges for global manufacturing. The global services PMI increased appreciably in July and now stands above its average over the last few years. In contrast, manufacturing has struggled in recent months, with nearly 80% of country-level readings in contractiona ...