Singapore Private Sector PMI Slows Sharply In December - Nikkei

Moderation in fuel price rises is though to be behind the statistic

Moderation in fuel price rises is though to be behind the statistic

The Nikkei India Services Purchasing Managers' Index (PMI), at 50.9 in December 2017, is yet another indication that the worst is behind the economy.

The dominant British services sector expanded faster than expected in December, delivering some more positive news about the United Kingdom economy after the manufacturing and construction sectors disappointed earlier in the week.

Construction firms in the United Kingdom indicated an uneven rebound in business activity in December. A number above 50 indicates growth in the sector.

However, the United Kingdom economy is still struggling to bounce back to levels seen in the final quarter of 2016 - when GDP rose by 0.6 per cent.

The eurozone economy closed 2017 by achieving its best growth for almost seven years, a survey released on Thursday revealed.

Economic activity in the euro-area accelerated to the fastest pace in nearly seven years as services surged while factories benefited from booming domestic demand and near-record growth in export orders. Outstanding business expanded for the nineteenth-straight month.

Manufacturing activity quickened to the fastest pace in five years in December, bolstered by a sharp rise in output and new orders, according to a private sector survey.

"A big question for 2018 will therefore be whether relatively high unemployment and spare capacity in many countries will continue to hold down pay growth and keep a ceiling on consumer price inflation", he said.

Those companies included in the report were broadly positive about the outlook for the year ahead with business sentiment rising to a three-month high.

The euro was higher, climbing 0.11% against the dollar to $1.2029.

Individually, there were slower rises in both output and new orders.

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