Global services sector firms - AmpGFX

Greg Gibbs, Director at Amplifying Global FX Capital, notes that the Global services PMI was steady in Dec at 53.3, remaining at a high in just over a year while the emerging market services PMI rose to 51.8 in Dec, a high since August.

Key Quotes

“India continued to be the main drag on the emerging market PMI, with a rise in Russia to 56.5, a high in at least three years, and firmer results in Brazil and China.”

“The UK services PMI (Released on Thursday 5 Jan) rose to 56.2 in Dec, above 54.7 expected to a high since July 2015.  The Eurozone services PMI was revised up from its initial reading of 53.1 to 53.7 in Dec, down a touch from a recent high of 53.8 in November.”

“The US Markit services PMI was also revised up from an initial reading of 53.4 to 53.9 in Dec, but this was down from 54.6 in Nov and a recent high of 54.8 in Oct.  However, the more closely watched and broader non-manufacturing ISM measure was stable at 57.2 in Dec, stronger than 56.8 expected, remaining at a high since October 2015.”

“The Japanese services PMI rising to 52.3, a high since January 2016.”