Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
services sector
Breaking News
UK's GDP growth rate was remained unchanged at 0.5 percent for the fourth quarter of 2015. Services sector contributed the most to the GDP growth. Meanwhile, International Monetary Fund (IMF) has cautioned about weakening global growth.
China's services sector grew slightly faster in November, two surveys showed on Wednesday, a welcome respite to a run of underwhelming data but still unlikely to allay concerns about the softening Chinese economy.
Despite positive Purchasing Managers Index data in both the manufacturing and services sectors, Markit's recent industry report also reflected a slowdown of hiring in the private equity sector.
For the first time in over six years, activity in the services sector in the UK grew to its fastest pace.
