US flash S&P Global Composite PMI improves to 52 in April, signaling robust economic growth

The US flash S&P Global Composite PMI rose to 52.0 in April (from 51.2), driven by stronger services (52.3) and a stabilizing manufacturing sector (50.8). Markets reacted positively: US stock futures ticked higher, Treasury yields rose modestly and the dollar strengthened as traders trimmed near-term rate-cut bets. The report reduces near-term recession risk, supports upward revisions to Q2 GDP estimates, and reinforces the Fed’s cautious stance — likely delaying rate cuts until clearer disinflation. Persistent input-cost inflation (input prices index 57.5) and sticky services inflation keep policy risk elevated, while forward-looking indicators (future output 65.0) and firmer capex plans suggest continued momentum into the next 12 months.