Wednesday, December 19, 2012

Global Services Sector Rebounds Sharply

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JPMorgan and Markit Global Indexes

Global Services PMI by Month

Growth of the global service sector continued in November, as the rate of increase accelerated sharply to hit an eight-month peak

At 54.9 in November, up from 51.9 in October, the JPMorgan Global Services Business Activity Index – a composite index produced by JPMorgan and Markit in association with ISM and IFPSM – stayed in expansion territory for the fortieth consecutive month.

David Hensley, Director of Global Economics Coordination at JPMorgan, said: "Growth of the global service sector posted a solid acceleration in November, with rates of expansion in output and new orders hitting eight-month highs. This wasn't reflected in the labour market, however, as cost-cautious service providers refrained from raising capacity."

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Seeking Alpha