The J.P.Morgan Global Composite Output Index rose to an eight-month high of 51.7 in
December, up from 51.4 in November. The index has been above 50.0 for the past 87 months.
Growth was recorded in both the manufacturing and service sectors during December. The rate of expansion in manufacturing production slowed with downturns in the
intermediate and investment goods sub-industries but offset by growth in consumer goods.
During the last month of 2019 economic activity increased in the US, China, the euro area, India, Brazil, and Russia. Contractions were registered in the UK, Australia and Italy. Output in Japan also decreased slightly. New business rose at the fastest pace
in five months in December.
Manufacturing new orders rose only marginally, whereas growth at service providers accelerated to its best since July 2019. The trend in international trade flows
remained weak, however, with new export orders contracting
for the thirteenth consecutive month.
Input costs moved higher.
Global business sentiment improved to a five-month high, but remained low by the historical standards. Optimism strengthened in the US, the eurozone, the UK, India and Brazil.
See the full report at Markit here.