Tentative signs of global recovery

GLOBAL manufacturing ended 2013 on a strong note, as major exporters like the US, Japan, and Germany all saw demand pick up, although China’s performance remained modest, surveys showed yesterday.

Years of loose monetary policy, along with soaring stock markets, appear to be bolstering economic confidence. That bodes well for a global economy that has struggled to shake off the effects of financial crisis and recession.

US manufacturing activity grew in December at its swiftest pace in 11 months, and the rate of jobs growth was the strongest since March, according to Markit’s Purchasing Managers’ Index (PMI).