Growth of global economy at 21-month high in September
Oct 6th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The JPMorgan Global All-Industry Business Activity Index rose to 52.9 in September, up from 52.0 in August, its highest reading since December 2007 - - 21 months. The headline index has posted above the neutral 50.0 mark in each of the past two months. The average reading for Q3 2009 was 51.1, well above that for Q2. The manufacturing sector continued to report faster growth of output than services in September. Manufacturing production rose for the fourth month in a row. Although the rate of expansion was less robust than the previous month's high, it was still above the long-run survey average.