Monday, February 11, 2013

Global Services Expand, Worldwide Employment Rises

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JPMorgan and Markit Global Indexes

Global Services PMI by Month
PMI > 50.0 is expansion, PMI < 50.0 is contraction



David Hensley, Director of Global Economics Coordination at JPMorgan, said: "The global service sector continued to expand at the start of 2013, adding to the positive news coming out of the manufacturing surveys last week. Services employment also posted a further solid gain, a positive bellwether for confidence among companies. Rising employment should also help shore up household demand in the coming months."

Worldwide Employment Rises "Job creation was recorded for the fourth month running in January. Moreover, the rate of growth in payroll numbers was the fastest since October 2007. The only nations to report job losses were France, Italy, Spain and Hong Kong. The US saw the sharpest increase, with employment rising to the greatest extent in almost seven years."

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