The world’s leading manufacturing nations started the year with tentative steps towards recovery, according to a survey of purchasing managers in 30 countries.
“Today’s data suggest that the global economy is faring much better than many had feared at the start of 2012,” said Chris Williamson, chief economist at Markit, which compiles the survey with JPMorgan.
The survey index rose to 51.2 in January from 50.2 in December, with figures above 50 indicating expansion. The strong data cheered markets, as the FTSE All-World equity index rose by 1.4 per cent.
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