Global economy starts fourth quarter on firm footing, price pressures ease
The following is an extract from IHS Markit's monthly PMI overview presentation. For the full report please click on the link at the bottom of the article.
Global economy sees solid start to fourth quarter
Survey data show the global economy continuing to expand at a steady pace at the start of the fourth quarter. The headline JPMorgan PMI™, compiled by IHS Markit, inched up to 54.0 in October from 53.9 in September, matching the August level which had in turn been the highest since March 2015. Historical comparisons suggest that the latest PMI indicates global GDP (measured at market prices) is rising at an annual rate of just over 2.5%.
An improved performance in the developed world was in part offset by a second successive monthly slowing in emerging markets. Developed world growth reached its highest since April 2015, with a composite PMI output index of 55.0. An equivalent reading of 51.5 for the emerging markets signalled the joint-weakest expansion seen over the past year.
Global PMI* & economic growth
Sources: IHS Markit, JPMorgan
Chris Williamson | Chief Business Economist, IHS Markit
Tel: +44 20 7260 2329
chris.williamson@ihsmarkit.com