Global economic growth begins Q4 on strong footing, firms in expansion mode

Global economic growth began the fourth quarter on a strong footing. The monthly PMI surveys, which track changes in actual business metrics from one month to the next, indicated that global output is rising at the joint-faster pace for just over two-and-a-half years, noted IHS Markit.

The survey data indicated that the upturn is becoming more widespread among the world’s developed economies, while also featuring rise in investment spending. More rapid growth was seen in the U.K., Japan and the U.S., though the euro area continued to be the best performer. But the data for India, China and Brazil continued to disappoint.

Meanwhile, business confidence has also rebounded, with the PMI’s sister Business Outlook Survey indicating global optimism at its highest for more than three years. The survey implies that firms are in expansion mode amidst expectations of stronger sales in 2018, stated IHS  Markit.

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