The worldwide PMI surveys indicated a further month of solid economic growth in September, with rising demand generating a return of jobs growth globally. However, the overall pace of output growth edged lower. The headline JPMorgan (NYSE:JPM) Global PMI™ (compiled by IHS Markit) fell for the first time in five months, dipping from 52.4 in August to 52.1. Business sentiment about the outlook meanwhile slipped lower for a second month amid growing worries of further waves of coronavirus disease 2019 (COVID-19) infections.
September not only saw rising coronavirus infection numbers in many countries, but also saw containment measures remain considerably tighter than had previously been expected as governments sought to reduce the spread of the virus. Containment even tightened in some countries, which consequently saw economic activity fall back into decline. However, in some cases, business growth slowed due to capacity constraints and supply chain delays.
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