Economic Buzz: China Caixin Services PMI Accelerates To 53.9 In December

Manufacturing activity also surged in the eurozone in December Shutterstock

The seasonally adjusted Business Activity Index improved to 50.9 in December from 48.5 in November, signalling a renewed increase in business activity.

Respondents indicated that housebuilding remained a key engine of growth, with residential work increasing for the 16th consecutive month in December.

These, along with lower inflationary pressures pushed the output from the negative zone. Goldman Sachs Group Inc. and JPMorgan Chase Co. are among the banks predicting worldwide growth will be around 4 percent this year, which would be the fastest since a post-recession rebound seven years ago. This was the highest score since February 2011.

New business and employment growth were both slower than in November.

The update comes as output in the United Kingdom manufacturing industry achieved "solid growth" last month, but eased back from a near four-and-a-half-year high when separate PMI data was released on Tuesday. "The sector has therefore broadly maintained its solid boost to broader economic expansion in the fourth quarter".

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Services Purchasing Managers' Index or PMI stood at 50.9 for the month, a report by Nikkei said on Thursday. Bundesbank President Jens Weidmann, who wants to set an end-date for monetary stimulus, recently cited regional bottlenecks as setting the stage for stronger wage growth.

"Rates of expansion improved in the U.S. and Japan, but eased in the UK". Panellists linked rises to higher raw material prices, which partly stemmed from supplier delays.

That's up from 50.7 in November, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

"Overall, 2017 has been a positive year for the Spanish economy, leaving it well placed heading into 2018".

Vehicle manufacturers are among those who have ramped up supply or felt the pressure of demand. Output growth accelerated to its fastest since the start of the year on the back of a marked upswing in demand as the year came to a close. "It's quite rare, so everyone's struggling a bit to keep up" in terms of production.

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