September PMI data signaled a modest acceleration in the pace of global economic growth. The rate of expansion hit a six-month high, but remained below-trend compared to that seen since the recovery began in August 2009.
The Global All-Industry Output Index — produced by JPMorgan and Markit in association with ISM and IFPSM — posted 52.5 in September, up from 50.9 in August. The average reading during Q3 as a whole (51.7) is little changed from the three-year low reached in Q2 (51.6).
Please note that, due to later release dates than usual, September services data for China, India and whole economy data for Hong Kong were not available to include in this month's global PMI. August data have been used as a proxy for the September calculations.