Summary

• S&P Global’s flash PMI data showed output growth continuing to run at only a very modest rate across the major developed economies in April, as the war in the Middle East dampened demand.
• Business activity growth across the four largest developed economies (G4) continued to grow in April.
• The principal area of weakness was the service sector, where growth across the G4 remained largely stalled in April, having slowed sharply in March.
• Concerns over supply shortages were highlighted by supplier delivery times lengthening across the G4 on average to the greatest extent since July 2022.

S&P Global’s flash PMI data showed output growth continuing to run at only a very modest rate across the major developed economies in April, as the war in the Middle East dampened demand.

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