Global Growth Prospects Rise in October: Sales and Market Growth Indexes Both Increase in October| World Economics

Global Growth Prospects Rise in October

Sales and Market Growth Indexes Both Increase in October

The possibility of global recession in early 2024 remains , as the all sector Sales Managers Survey data for the three great growth engines of economic activity ( China, the USA and India ) remain mired in relatively lowly numbers. The Indian economy continues to grow but is much smaller than the two mega engines of the US and China that have propelled global economic activity so far, and so fast, for so long.

Global Prices Charged Index: October
Diffusion Index. (50 = 'No Growth')

While it's too early to suggest that the threat of global recession is receding, as interest rate increases can exert a powerful downward influence on economic growth, particularly in a world grown suspicious of global trade, some hints of growth to come can be seen in the 21 month high recorded in October by the Global Market Growth Index, and another high recorded by the Sales Growth Index.

Price inflation remains a serious threat , with the Global Price Index registering a rise in October to a 16 month high. But the threat of price deflation turning the Chinese economy into a Japanese style quagmire of falling prices and falling economic activity appears to be receding. And the possibility of renewed global economic growth in 2023 starts to look a little more realistic.

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