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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 PMI falls for second month running in
December
The JPMorgan Global PMI™ (compiled by IHS Markit with data
collected 4th-21st December) edged down from 53.1 in November to
52.7 in December, its lowest since September. The decline indicates
that the pace of global economic growth slowed for a second month
running, as rising coronavirus disease 2019 (COVID-19) cases
dampened activity and demand, though output is still indicated to
have risen over the fourth quarter as a whole, further recovering
from the unprecedented downturn seen in the first half of 2020.
The slower expansion during December occurred alongside renewed
measures implemented to fight further waves of virus infections in
many countries. IHS Markit's COVID-19 Containment Index has risen
from 32 in September to 45 in December, though notably remains well
below levels seen earlier in the year (during initial, tighter
lockdowns, the index hit 64). The adverse impact on global GDP from
the pandemic in the fourth quarter consequently looks considerably
less severe than seen during the second quarter. Worse may be yet
to come, however, as the Global Containment Index is projected to
rise to 46 in January.
Chris Williamson, Chief Business Economist, IHS
Markit
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.
