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Markit Monthly Economic Review: Global growth revives to 9-month high in December, but will it last?

Worldwide PMI surveys showed the pace of economic growth lifting to a nine-month high at the end of last year. PMIs picked up in many countries, though from low levels in many cases, meaning national economic growth rates in the final quarter of last year were often the weakest since early-2009.

Furthermore, the rise in output was often not matched by a similar strengthening of order books, and business confidence for the year ahead slumped in many countries as the Eurozone crisis continued to cause widespread uncertainty. While the upturn in December therefore warrants cautious optimism, 2012 looks likely to be a challenging year for many companies.