The latest PMI results revealed a marginal increase in the rate of global economic expansion, the first acceleration for four months.
- The J.P. Morgan Global Composite Output Index increased to 53.0 in September, up from August’s seven-month low of 52.5, to indicate growth for the 15th successive month.
- National PMI figures indicated that output continued to grow across much of the global economy. Expansions were recorded in the US, the euro area, the UK, India, Brazil, and Russia, offsetting contractions in Japan and Australia.
- Manufacturing output and services business activity jumped at quicker rates in September, even though in both cases growth remained weaker than that recorded during much of the earlier part of the year.
- Output also increased across all six of the sub-sectors covered by the survey, with the strongest expansion in the business services category, followed by financial services.
The outlook for the global economy remained positive in September. Companies reported that they forecast activity to increase over the coming 12 months, with positive sentiment rising to a 3-month high.
DXY up +0.46%, EUR USD down -0.54%Source: IHS Markit