JP Morgan's Single-Best Proxy For Global GDP Growth Just Turned Up

JP Morgan’s global all-industry PMI output index, which they describe as the “single best proxy for global GDP growth” rose 1.4 points to 51.7, halting a 4 month decline. 

“The results offer a bit of a breather for this key barometer of global growth, halting a four-month slide,” wrote JP Morgan’s David Hensley.

The growth was driven by a big jump in services PMI, which overcame weaker manufacturing numbers. 

Here’s the chart:

Global PMI

Photo: JP Morgan

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