Signs suggest recovery is gaining momentum

Recent data on the economy point to a recovery in activity that appears to be gaining momentum.

Figures released for the closing months of 2013 and opening month of this year have generally been quite strong.

Purchasing managers’ indices are timely monthly economic surveys published in many countries. They are viewed as good leading indicators of activity. An index reading above 50 usually signals economic expansion, while a sub-50 reading generally points to contraction.