The following is an extract from IHS Markit's latest Monthly PMI Bulletin. For the full report, please click on the 'Download Full Report' link.

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The global economy expanded for a fifteenth straight month in September, according to the JPMorgan Global PMI™ (compiled by IHS Markit). The rate of expansion improved slightly from August and was the first uptick in fourth months, but remained the second lowest since January.

Both manufacturing and service sectors contributed to the slight improvement, although output growth for the manufacturing sector remained the second weakest since recovery commenced in July 2020. Lingering COVID-19 Delta variant issues continued to affect demand, particularly in the service sector. Meanwhile issues of supply constraints, across both input and labour, were aggravated further by the latest Delta wave. Average suppliers' delivery times continued to lengthen globally at a near-record pace while input prices inflation remained among the highest for a decade.

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Purchasing Managers' Index™ (PMI™) data are compiled by IHS Markit for more than 40 economies worldwide. The monthly data are derived from surveys of senior executives at private sector companies, and are available only via subscription. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.

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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.