Business and consumer confidence have both strengthened further in recent months across the major world economies, according to a report published Wednesday from Fitch Ratings.
More than two-thirds of the major economies have seen their manufacturing Purchasing Managers Indices (PMIs) improve over the past couple of months, the report notes, and more than half have seen an improvement in consumer confidence.
“PMI balances speak to the continuation of the global manufacturing upturn as emerging market demand has recovered and world trade growth has reached a six-year high of 5%,” says Brian Coulton, chief economist at Fitch, in a statement.
“Consumer confidence is benefitting from ongoing tightening in labour market conditions, with declining unemployment rates bolstering job security,” adss Coulton.