Global economic growth posted a rebound in September after a seven-month low in the previous month, as output increased across most of the globe, IHS Markit reported.
- The JP Morgan Global Composite Output Index rose to 53.0 in September, up from the seven-month low of 52.5 in August to mark the 15th straight month of global economic expansion.
- Growth was recorded in the United States, the Euro area, the United Kingdom, India, Brazil, and Russia, which offset the contractions recorded in Japan and Australia.
- Manufacturing output and services business activity posted a faster expansion during the month, but the expansion was slower than the previous month. Output growth was faster in all six sub-sector, led by the business sector.
- The JP Morgan Global Services Business Activity Index increased to 53.4 from 52.8 in August, marking the fifteenth month of growth. Expansions were seen in the United Kingdom, Brazil, India, and Russia.
New business orders posted a rise during the month, marking the second straight month of decline in new export business.