Monthly PMI Bulletin: September 2021
IHS Markit | Sep 09, 2021 07:09
The global economy expanded for a fourteenth straight month in August, according to the JPMorgan (NYSE:JPM) Global PMI™ (compiled by IHS Markit). However, the rate of expansion was the slowest since January.
Both manufacturing and service sectors contributed to the easing of growth as COVID-19 cases rose around the world and induced further caution. Impeded by sustained supply-side constraints, global manufacturing growth fell to the lowest in 14 months. PMI sub-indices also showed a lengthening of average supplier lead times to an extent exceeded only twice in the survey's 23-year history, linked in turn to yet another steep rise in prices and underscoring the unprecedented supply chain pressures faced by firms.
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