Indicators of manufacturing activity show the global economy is still ailing from COVID-19

News Snapshot:

Open this photo in gallery: Employees work on vehicle production at a conveyor belt at the FCA Brampton Assembly Plant in Ont., on July 21.Tijana Martin/The Globe and Mail Economists and central bankers have been wondering for months how long demand can hold up under the growing pressure from high interest rates. Based on the deepening pessimism of the world’s purchasing managers, deep cracks in that dam of resilience have already formed – and may soon burst. Purchasing managers’ indexes – PMIs – are monthly gauges of business activity, derived from surveys of supply managers at private-sector businesses. These surveys,...