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Global economies show strong September growth in US, Eurozone, and India
Global economic data for September shows significant expansion in several major economies, according to S&P Global flash PMI surveys.
In the United States, business activity accelerated at its fastest pace since July 2021, with the composite PMI rising to 58.4. This growth was driven by a surge in the services sector, which reached a 59-month high, and a strong rebound in manufacturing. However, experts noted that this expansion is accompanied by severe supply chain bottlenecks and rising input costs, which may fuel inflation.
The Eurozone also experienced a notable boost, with the composite PMI climbing to 53.1, its highest level in 41 months. This unexpected acceleration was led by a strong services sector, while manufacturing remained stable. Economic analysts suggest this resilience could influence the European Central Bank's interest rate decisions.
In Asia, India's private sector economy showed strong momentum, with the composite PMI rising to 56.5, marking its strongest expansion since June. Meanwhile, Japan's manufacturing activity growth slowed to a four-month low, though business confidence remains high due to demand in AI and semiconductor sectors.
In Europe, Germany reported a significant rise in its composite PMI to 53.8, driven largely by a recovery in the services sector.
Entities
Canaccord Genuity · Commonwealth Bank of Australia · European Central Bank · Eurozone · Germany · HSBC · Iain Ross · India · Reserve Bank of Australia · S&P Global · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Canaccord Genuity expects the Reserve Bank of Australia to hike the cash rate by 25bps in September.
- [○ 1 SOURCE] Private-sector headcounts fell for the first time in four months during September.
- [○ 1 SOURCE] The Manufacturing Output Index dropped to 46.4, the steepest fall in factory output in 21 months.
- [○ 1 SOURCE] CBA expects the unemployment rate to remain steady at 4.5% for August.
- [○ 1 SOURCE] Australia’s S&P Global Flash Composite PMI fell to 50.8 in September from 52.7 in August.
- [○ 1 SOURCE] CBA forecasts August employment will rise by 15,000, below the market consensus of 20,000.
- [○ 1 SOURCE] RBA Board Member Iain Ross dismissed the threat of a wage-price spiral in the domestic economy.
- [● 9 SOURCES] The eurozone composite PMI rose to 53.1 in September from 52.0 in August. newsbit.nl · cashcow.nl · www.sbctv.gr · www.reporter.gr · www.finanzen.at · +4 more
- [○ 1 SOURCE] Germany's services PMI rose to 52.9 in September from 49.7 in August. www.unternehmeredition.de
- [● 4 SOURCES] The eurozone manufacturing PMI remained at 52.7 in September. newsbit.nl · cashcow.nl · www.sbctv.gr · www.reporter.gr
- [○ 1 SOURCE] The Germany composite PMI rose to 53.8 in September from 51.8 in August. www.unternehmeredition.de
- [● 2 SOURCES] India's composite PMI rose to 56.5 in September from 54.3 in August. www.mangalorean.com · newsable.asianetnews.com