22 Feb Services sector rebound fuels growth and inflation in developed economies
Posted at 05:17h
in Insights
The flash PMIs show developed economies regaining momentum, despite rate hikes
February 22, 2023 / 10:57 AM IST
As per the PMI data, there’s a clear divide between the performance of the services sector and of manufacturing.
Central banks in the advanced economies will be a worried lot after looking at the Flash Purchasing Managers Indices (PMIs) for February 2023. The Composite PMIs, which measure activity in both the manufacturing and services sectors in the economy—specifically the private sector—saw an uptick in February in the US, the UK and the Eurozone, while it remained the same in Japan (see Chart 1).
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In the US and the UK, the composite PMI for February came in at an…