Greece Outside In: LIVE: Thousands Of Companies Around The World Reveal The Truth About The Economy

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HEADS UP: The world's biggest economies are rolling out their July manufacturing PMI reports starting at around 7:30 p.m. ET and ending at around 11:00 a.m. ET, Thursday. And this is our scorecard.

The new numbers will be watched more closely than usual as the global economic tides appear to be turning.

In a nutshell, China's hot economy has shown signs of slowing. Meanwhile, the beleaguered eurozone economies have been showing signs of life.

The U.S. economy seems to be heading in the right direction. On Wednesday, we learned that U.S. GDP was growing at a 1.7% rate in Q2.

"Solid rates of expansion were signaled by the PMIs for the US, Japan, the UK, Russia, Switzerland and Mexico," noted Markit and JP Morgan in their summary of last month's PMI reports. "Meanwhile, the downturn in the eurozone continued to ease. China, Taiwan, South Korea and Vietnam also reported contractions during the latest survey period."

The global aggregate manufacturing PMI index was unchanged at 50.6 in June.

PMI

At the beginning of each month, Markit, HSBC, RBC, JP Morgan, and several other major data gathering institutions publish the latest local readings of the manufacturing purchasing managers index (PMI) for countries around the world. Read more about it at Markit.

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