The following is an extract from IHS Markit's monthly PMI overview presentation. For the full report please click on the link at the bottom of the article.
Global business reports best order book growth for over three years
Global economic growth held steady at a 2½ year high in November, according to the headline JP Morgan PMI™, compiled by IHS Markit. Historical comparisons suggest that the latest PMI indicates global GDP (measured at market prices) is rising at an annual rate of just over 2.5%. Faster order book growth in both services and manufacturing, collectively rising at the steepest rate since September 2014, indicated that the pace of expansion could improve at the end of the year. Job creation continued to run at its highest for 6½ years as firms expanded capacity to meet future demand.
The gap between the developed world and emerging markets remained marked, with the latter continuing to underperform relative to developed world growth – a trend which has been evident since 2013, with the gap showing signs of widening.
Global PMI* and economic growth
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