S&P Global’s recent report indicates a positive end to the year, with the Global PMI registering a notable increase in December, reflecting heightened business activity worldwide. This surge encompasses both manufacturing and services sectors across more than 40 economies globally.
The report reveals that business activity rose from 50.5 in November to 51.0 in December, marking the highest level since July. Additionally, emerging markets experienced an uptick in expansion, reaching a six-month high. Notably, India maintained its status as the fastest-expanding economy, sustaining its most robust growth streak in 15 years. Russia also saw a broadening expansion, with both manufacturing and services sectors recording their strongest growth since the onset of the pandemic. Similarly, China exhibited growth in both manufacturing and services activities.
However, disparities persist, particularly concerning recession risks in the Eurozone and business inactivity in Japan. The report attributes this divergence to differing economic conditions, noting that while looser financial conditions have boosted consumer and financial services, the factory sector continues to face challenges, particularly in primary manufacturing industries, leading to significant declines.
Overall, the report underscores the global economic landscape’s resilience and dynamism, despite ongoing challenges in certain regions, offering insights into the diverse trends shaping business activity worldwide.
