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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.  

Key quotes

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.