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Global PMI close to 3.5 year high in January, drives upturns in hiring and prices – IHS Markit

The global PMI surveys for the month of January showed that the global economic growth rate accelerated to the most rapid since 2014, as rising numbers of emerging markets have begun to join the developed world-led recovery. The global PMI came in at near three-and-a-half year high in January 2018. Markedly, Chinese businesses recorded the best growth for seven years. Since early-2011, there have only been five months in which all major developed and emerging market composite PMI output indices have been above the neutral 50.0 mark, noted IHS Markit.

Moreover, the surveys have also shown an overall deepening of inflationary pressures. Recent months have seen the most considerably period of sustained selling price inflation since the global financial crisis.

If the upturn in growth wasn’t enough to cast a hawkish hue over the PMI releases, the surveys also indicated an overall intensification of inflationary pressures. Recent months have in fact seen the most significant period of sustained selling price inflation since the global financial crisis.

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