World Economy Barometer-December 2012

World Economy Barometer-December 2012

An unconvincing improvement

Economic Analysis

18 December 2012

The global composite PMI hit an eight-month high in November as the services sector improved. However, it’s an unconvincing improvement. Firstly, the employment component of the services PMIs remain depressed. Second, the stabilisation in global manufacturing is fragile. Overall, it appears that the global economy has little by way of momentum as the fiscal cliff comes into view.

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