Economic Developments  Developments in the Global Economy Composite PMIs for Major Economies 70  s.a., DI  60  50  40  30  Japan  United States  Euro area  China  21  22  20  10 CY 18  19  20  Note: The Composite PMI is a weighted average of the Manufacturing Output Index and the Services Business Activity Index.
Figures for Japan are the au Jibun Bank Japan PMI. Those for China are the Caixin China PMI. Source: Copyright © 2022 by S&P Global Market Intelligence, a division of S&P Global Inc. All rights reserved. 4  Chart 5  I.