UK recruitment activity continues to pick up pace in November

Latest evidence from Markit’s recruitment industry survey signalled a further strengthening of the UK’s labour market in November. The KPMG/REC Report on Jobs, published today, signalled that the number of staff placed in permanent roles showed the largest monthly increase since April. Agencies’ temporary/contract staff billings also increased at a sharper rate, with growth accelerating to a five-month high.

US employment surge gives green light for December rate rise

Better-than-expected news on the buoyancy of the US labour market gives policymakers the clear go-ahead to hike interest rates for the first time since 2006.

Developed world growth picks up alongside steadier emerging markets

The global economy grew at a slightly faster rate in November, led by upturns in the US, UK, Japan and the eurozone, which all saw either faster rates of expansion or robust growth holding steady at October’s rate. Emerging markets also stabilised, helped in particular by a return to growth in China, although downturns in other emerging Asian countries and Brazil remain a key source of concern.

UK PMI surveys signal solid growth but stagnant prices in fourth quarter

A welcome upturn in service sector expansion helped counter slower growth in manufacturing and construction in November, suggesting the UK continues to enjoy the ‘Goldilocks’ scenario of solid economic growth and low inflation. However, signs of an upturn in earnings growth raise question marks over just how long inflation, and therefore interest rates, will remain low for.

China PMI surveys signal return to growth in November

China’s economy expanded, albeit only modestly, for the first time in four months, according to November’s Caixin PMI surveys, heralding a welcome return to growth. However, inflows of new orders fell slightly, employment continued to drop and average prices charged for goods and services decreased at the fastest rate for 20 months, highlighting an intensification of deflationary pressures during the month.

Eurozone economies dominate global manufacturing growth rankings

Global manufacturing remained stuck firmly in the slow lane in November, hindered by slumping demand in many key emerging markets.

Chinese production stabilises as export wins help offset weakening domestic demand

China’s manufacturing economy contracted for the eleventh time in the past 12 months in November, according to the Markit-compiled Caixin PMI survey, but the rate of decline eased to the weakest since June.