(IHS Markit) JP Morgan Global Composite Output Index was 53.0 in September, an increase from a seven-month low of 52.5 in August. The index signals global growth for the fifteenth straight month.
The UK, Brazil, India, and Russia posted expansions that offset slowdowns in Japan and Australia. The top-four ranked growth countries were in the eurozone.
Manufacturing and services business activity was quicker in September, although it remained below levels witnessed earlier in the year.
Output increased across the six subsectors, with the business services the strongest, followed by financial services.
The increase in new orders remained weak. New export orders rose for the eighth straight month.
Backlogs increased for the seventh month and at a higher pace than in August.
Supply chain constraints hampered economic activity, with capacity issues leading to shortages and higher lead times for raw materials.
Global job creation was up for the thirteenth straight month, with modest gains by manufacturing and service businesses.
Businesses expect activity to rise in the coming 12 months, with the sentiment higher among service firms than manufacturers.
SPY is down -1.24% on premarket, Nikkei 225 is down -1.25%, DAX is down -2.26%, CSI 300 is up +0.67%.
