Saturday, January 5, 2013

Global Economic Growth Accelerates

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JPMorgan & Markit Global Indexes

Global private sector output expanded at the fastest pace for nine months in December, rounding off the strongest quarter since Q1 2012. Trends in new orders and employment also improved, but there were further signs of companies supporting output levels by working through backlogs of work.

At 53.7 in December, up slightly from 53.6 in November, the Global All-Industry Output Index – produced by JPMorgan and Markit in association with ISM and IFPSM - signalled expansion for the forty-first successive month. The rate of increase was broadly in line with the average for this period.

Global All-Industry, Manufacturing, Services by Month

David Hensley, Director of Global Economics Coordination at JPMorgan, said: "Growth of the global economy peaked at a nine-month high in December, led by a solid increase in service sector output and signs of a muted recovery in manufacturing production. The global economy is therefore entering the new year on a positive footing and, with trends in demand and other forwardlooking indicators still supportive, should maintain this momentum in the coming months."

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