Fed rate hike draws closer as global growth ticks higher

The JPMorgan Global PMI™, compiled by Markit, regained some poise after slipping to a nine-month low in September, rising to 53.4. However, the survey merely signals a rate of worldwide GDP growth of just around 2% per annum. Services continued to drive the upturn, as has been the case throughout the past year-and-a-half, though an upturn in the goods producing sector meant the divergence narrowed.