A report by Reuters indicated that a rise in demand in several economies all over the world confirmed evidence that overall growth is picking up.
Senior global economist Andrew Kenningham at Capital Economics said, "The advanced economies have clearly picked up, China is the exception among the major emerging economies but the other emerging economies are still struggling and India in particular."
Businesses in the Eurozone experienced its best month as they saw a rise in orders not seen since mid-2011. China's services sector clocked a high in growth not seen in five months.
However, economies in India, Italy and France had dipped further. In a note prepared for the upcoming meeting of the Group fo 20 in Russia, International Monetary Fund said that the dip of the said emerging economies were said to be attributed to the tightening of the monetary policy of the United States.
For example, a poll conducted by Reuters predicted that the Purchasing Managers Index (PMI) for US services would drop to 55.0 from last July's 56.0. Markit's Eurozone Composite PMI, on the other hand, jumped to 51.50 for August from 50.50 for July. Germany's composite MPI was 53.5, but France's composite PMI dropped 0.3 point to 48.8.
An index rate of 50 indicated expansion.
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