Early Year Activity-Positive but with Possible Warning Signs

摘要

2018 is off to a good start, following a strong finish last year. The Global Purchasing Managers Index (Chart 1), a barometer of world manufacturing activity, is at its highest point since 2010 as almost all countries are currently in growth mode. Electronic equipment manufacturing is robust (Chart 2). Despite entering its winter "slow season" China had record sales in December and Europe and the USA reported significant growth.