The hunt for clues about whether the third quarter's improvement in global economic growth can persist started in earnest yesterday. The first monthly measures of the economic pulse show that the heartbeat is picking up.
Surveys of manufacturing companies around the globe have come in stronger than expected in China and other Asian economies, the eurozone, the UK and the US.
A closer look at the US Institute of Supply Management survey shows that the employment index expanded for the first time in over a year. This is very important – thus far employment had remained below the key 50 per cent mark that indicates confidence.
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