Page 9 - Policy Economic Report - September 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 3: Headline Inflation rate

Source- OECD

Global PMI

• The JPMorgan Global PMI Composite Output Index - produced by S&P Global - registered 52.8 in
September 2024, up from 52.5 in August 2024.

• The latest reading marked a first acceleration in growth rate in three months and is broadly
indicative of the global economy growing at an annualized rate of 3.2% in 2024.

• While the services activity growth accelerated to a three-month high, the manufacturing output
fell fractionally. Softening demand, underpinned by deteriorating trade conditions, affected
manufacturing production midway through the third quarter of 2024.

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