Globally, Europe appears to be flirting with a double dip recession yet China and Japan as the world’s second and third largest economies, are currently helping keep the global expansion on track. economy accelerating rapidly, with November being the best month since September of 2014 for manufacturing's growth rate, the best month since March of 2015 for services' growth rate, and the best month since March of 2015 for the output-weighted composite of these two indicators. is responding to the virus, it finds itself leading the global recovery. In aggregate, Markit data show the U.S. Pricing power is also being regained, with firms pushing up average charges for goods and services at a rate not seen for at least a decade, boding well for stronger profits growth."įurthermore, despite the continued negativity regarding how the U.S. Optimism about the future is running at its highest since early 2014.The recent improvement in demand and the brightening outlook encouraged firms to take on extra staff at a rate not previously seen since the survey began in 2009, underscoring how increased optimism is fuelling investment and expansion. Confidence has picked up considerably, with encouraging news on vaccines coinciding with reduced political uncertainty following the presidential election, hopes of greater stimulus spending, and fresh stock market highs. " November saw US business activity surge higher at a rate not seen since early-2015 as companies enjoyed sharply rising demand for goods and services. Based on historical patterns, while there is usually a period of "'give back" following such an event, this kind of market breadth typically foreshadows continued equity market gains…Īlthough there were some concerning data points in Friday’s jobs report data, Chris Williamson, Chief Business Economist at IHS Markit noted that: More importantly, all of the major indices showed strength reaching new all-time highs in unison. November is in the books, recording one of the best months in market history. That makes it six out of the last eight months where the S&P has recorded gains since the March lows. However, investors took the “bad news is good news” approach viewing the weaker-than-expected number as a positive as it could pressure lawmakers to move forward with additional fiscal stimulus. The unemployment rate, however, matched expectations by falling to 6.7% from 6.9%. That’s well below a Dow Jones consensus estimate of 440,000. The Nasdaq Composite rallied 2.2% this week. The S&P 500 gained 1.7% over that time period. jobs report.įriday’s jump led major averages to their fourth weekly gain in five weeks. S tocks rose to record levels on Friday, notching another weekly advance, as investors shook off a disappointing U.S.
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