My 'Big 4' average PMI is composed of GDP-weighted, extreme-adjusted PMIs of the US, the UK, Europe, and Japan. Together, these make up 48% of world GDP. The other 4 countries which are included in the 'Big 8', don't have 'flash' (= preliminary) estimates for the latest month, but the 'Big 4' do. The latest data for the 'Big 4' are for June ― the 'flash' estimates ― but for the 'Big 8', data are only available until May.
Since revisions of the component time series, if they are random, are likely to offset each other, that means that the 'Big 4' PMI has indeed fallen in June, so it seems very likely that the world economy is continuing to slow. Note that a reading above 50 for the PMI means that the economy is still expanding, but the steady fall in how much it is above 50 indicates that it is expanding more slowly. If we just extrapolate the trend lines, the 'Big 4' and 'Big 8' PMIs are likely to cross the 50% line by the end of this year, marking the point at which the world goes into recession.
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