JPMorgan Global PMI: Global Report on Services - January 4, 2013
Service Sector Growth Remained Solid in December
December PMI data signaled a further solid increase in global service sector business activity. Companies benefited from the fastest growth in new orders since March 2012, encouraging many to raise employment.
At 54.8 in December, unchanged from November's eight-month high, the JPMorgan Global Services Business Activity Index — a composite index produced by JPMorgan and Markit in association with ISM and IFPSM — signaled expansion for the forty-first month in a row. The average reading for Q4 2012 as a whole is 53.8, the highest since the opening quarter of that year.