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:
Photo: JP Morgan
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