Global economy on course for best quarter of year
The global economy is enjoying its strongest quarter so far this year, according to PMI survey data, though cost inflationary pressures have also intensified to a near- three year high (Source IHS Markit news, Dec 5th 2016)
According to JPMorgan Global PMI, compiled by Markit from its various national surveys, held steady in November, unchanged on October’s 11-month high of 53.3. The improvement means that the PMI signals annual global GDP growth (at market prices) accelerating towards 2.5% in the fourth quarter, breaking through the 2% barrier for the first time this year.
Robust growth was recorded in both manufacturing and services, suggesting a broad-based improvement in the global economy by sector . However, the developed world continued to outpace the emerging markets, continuing the trend that has been seen almost continually over the past three years.
While business activity growth in the developed world accelerated to a 12-month high, the pace slowed in the emerging markets. The latter are nevertheless on course for the strongest quarterly performance just over two years and would have seen stronger growth had business activity in India not been disrupted by the withdrawal of high value bank notes.
See the complete arrticle in IHS Markit News at JPMorgan Global PMI, compiled by Markit
See the complete arrticle in IHS Markit News at JPMorgan Global PMI, compiled by Markit