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Global financial sector continues to grow strongly in October

Global financial sectorThe latest set of IHS Markit Global Sector PMI data signalled that global financial activity increased sharply in October.

The rate of growth in the sector, which comprises banks, real estate, insurance and other financials, was broadly in line with September’s 37-month high.

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At the detailed level, growth was fastest in other financials and real estate, with insurance lagging.

Other financials registered the strongest rate of expansion of all detailed sectors monitored in October.

The pace of growth was the secondfastest in over three years.

The top three was completed by technology equipment and real estate.

In contrast, the services component of technology, software & services, was among the weakest-growing sectors in October.

Media registered the weakest performance in October, with no change in output since September.

This ended a 14-month sequence of expansion.

Meanwhile, construction materials registered only a fractional rise in output. â– 




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