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Global economy enjoying accelerating momentum in 2018, accompanied by rising price pressures

07 March 2018 Chris Williamson

The global economy has enjoyed accelerating momentum so far in 2018, according to PMI data. The JPMorgan Composite Output PMI™, compiled by IHS Markit from its various national surveys, hit 54.8, up from 54.6 in January and indicating the fastest pace of growth since September 2014. The latest surveys are broadly consistent with global gross domestic product growth accelerating to an annual rate of 3% at market exchange rates. Similar robust expansions were seen in manufacturing and services in February, though while the former slowed, the latter saw growth hit a near-three year high.

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