Global Growth Accelerates As COVID-19 Restrictions Ease
IHS Markit | Mar 14, 2021 07:01
The following is an extract from IHS Markit's monthly PMI overview presentation. For the full report please click on the link at the bottom of the article.
Global economic growth accelerated in February, according to the worldwide PMI surveys conducted by IHS Markit, with growth falling just short of last October's peak to signal the second-strongest expansion since August 2018. At 53.2, up from 52.3 in January, the JPMorgan (NYSE:JPM) Global PMI™ (compiled by IHS Markit) indicated rising output for the eighth straight month as demand continued to revive from the initial impact of COVID-19 lockdowns.
Whereas growth had slowed in the three months to January, primarily reflecting the re-introduction of measures to control further outbreaks of the virus in many countries, February saw restrictions ease slightly on average, notably in the US. IHS Markit's Global COVID-19 Containment Index fell from 48 in January (which had been its highest since last May) to 45 in February.
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