WDIV - Global PMI Signals Faster Economic Growth And Brighter Prospects At Start Of 2024

2024-02-07 19:18:00 ET

Summary

• Global output growth accelerated for a third straight month in January, according to the S&P Global PMI surveys.
• Financial services reported by far the strongest expansion of the major industries tracked by the global PMI, fueled in turn by resurgent activity in the real estate, insurance, and banking sectors.
• The support to the broader manufacturing economy from rising demand for consumer goods was accompanied by the first rise in demand for basic materials for almost two years.

Global output growth accelerated for a third straight month in January, according to the S&P Global PMI surveys. Looser financial conditions helped boost financial services activity and consumer spending, while manufacturing was also buoyed by a reduced focus on inventory reduction....

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