Global Growth Engines Index Reaches One Year High

Renewed growth in China and the US re-energise global economic activity


 
The Global Business Confidence, Market Growth and Sales Growth Indexes all rose sharply in February, but the Sales Growth Index provided the biggest surprise, rising 3.6 points to arrive at a very positive Index reading of 53.6, suggesting rather rapid economic growth is evolving.


The Chinese Services Sales Growth Index won the star of the month award, rising almost 5 points to a hefty 55.7 reading. But most growth related indexes in both Manufacturing and Services sectors rose sharply in China, indicating significant revival from the lockdown period that has hampered economic activity for many months.

It's perhaps too early to suggest that the possibility of global economic recession in 2023 has been entirely banished, but it’s much forecast shadow has certainly receded. There is no doubt that China has been the primary motor of global growth over the past three decades, so the revival of economic activity in China suggested by the February Sales Indexes is most certainly a very positive sign.
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