Released: 31 December 2020
Global Growth Index For December Shows Rise In Sales But Also Significant Rise In Inflation And Continuing Job Losses
The Sales Growth Index rose from 51.1 to 52.9 in December. This is a 14 month high and represents a partial but clear indication of recovery from the depths of the Covid induced recession in global economic activity.
Business Confidence also rose marginally in December to a 9 month high, indicating more panelists believe the next few months see better times ahead, than those still viewing the future with trepidation. Rising "animal spirits" is in itself usually an indication that the business climate will improve, as rising confidence leads to rising investment in business systems and people.
Two big negatives remain evident from the survey results. First, the Prices Charged Index is now at a 10 month high, and indicating significant price rises are moving through the global sales systems. The second big negative is indicated by the Job Index, still well below the 50 "no growth" level, and reflecting the severe job losses that continue to derive from companies damaged by Covid.
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