JP Morgan’s Global Composite Purchasing Managers’ Index (PMI) fell to 51.2 in September.
The data held above 50 for the 84th consecutive month, indicating expansion, but was the lowest reading since mid-2016.
Put simply, the pace of expansion in the global economic activity slowed to three-year lows in September.
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Among the nations for which September PMI data were available, rates of growth improved in the US, Italy and Brazil, while Australia returned to expansion following a contraction in August.
Rates of increase slowed in France, Spain, Russia and Ireland, while downturns were signalled for Germany and the UK.
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