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World   Global growth accelerates in December

Global business confidence hits highest level for 9 months

Global business confidenceGlobal business activity across all industry sectors grew modestly in December indicating that the global economy continues to exhibit low but consistent rates of economic activity, according to World Economics.

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The Headline Sales Managers’ Index (SMI) posted 53.5 in December, up by 0.3 on the November level. Business confidence has grown to a nine month high with a December index reading of 57.1.

The monthly Sales Index for December improved again to 55.8 from 55.6 last month confirming the recent optimism expressed by managers as sales growth improves.

Price rises for goods and services have remained modest during the month with another uptick in the index level and the Staffing Levels Index indicating no growth with a value of 50.0.

Towards the end of 2016 there has been a marked improvement in the global economy but the average SMI for the year (53.1) is well below the level reported in 2016 (56.4).

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