Global activity (PMI)
Assessed by an AI model against this signal's rubric. Describes conditions; not a forecast or advice.
NormalEasingSep composite: joint-highest since 2021
Global PMI strong in September, but October flashes and China's PMI softened
Why it's at this level
The J.P.Morgan Global Composite PMI rose in September to its joint-highest level since 2021 (published 6 Oct). October readings so far point to softer momentum: euro-area flashes slowed (23 Oct) and China's official manufacturing PMI fell to 49.3 (31 Oct). The October global figures are due 2–4 Nov.
What this means for you
Global activity has held up well so far despite the energy shock.
Why it matters
Purchasing-manager surveys are the fastest read on whether the world economy is expanding or contracting.
What moves it
Orders, inventories, trade policy, energy costs, credit conditions.
Status at each of the last 2 checks
How it's rated
Alert
Global composite < 49.
Watch
Global composite 49–51, or manufacturing < 49.
Normal
J.P.Morgan Global Composite PMI > 51.