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Composite Global economic activity, as measured by Composite PMI, has slowed down markedly in 2019 compared to 2018. In 2018, average Composite Global PMI (using quarterly averages) stood at 53.6. This fell back to 51.7 in 2019. In 4Q 2019, average Global Composite activity index stood at 51.3, virtually unchanged on 51.4 in 3Q 2019. Overall, Global Composite PMI has now declined in 7 consecutive quarters.
This weakness in the Global economic activity is traceable also to BRIC economies.
Brazil's Composite PMI has fallen from 52.0 in 3Q 2019 to 51.5 in 4Q 2019. Things