JPMorgan Global PMI: Global Report on Services - November 6, 2013
Service Sector Expansion Accelerates
The JPMorgan Global Services Business Activity Index — a composite index produced by JPMorgan and Markit in association with ISM and IFPSM — rose to a 32-month high of 56.4 in October.
Business activity has risen in each month since August 2009. The latest expansion was broad-based, with growth signaled by almost all of the nations for which October services PMI data were available. The exceptions were Spain (which saw a marginal decrease in output), India — where the rate of contraction eased sharply — and Australia.