Conditions and Confidence improve for SMEs


Central bank statements reinforcing their guidance that interest rates should stay low for a long time yet across the big advanced economies, have supported financial markets. Recent business surveys and industrial data point to an upturn in growth in these advanced economies
Global: Central bank statements reinforcing their guidance that interest rates should stay low for a long time yet across the big advanced economies have supported financial markets. Recent business surveys and industrial data point to an upturn in growth in these advanced economies, possibly heralding the start of the shift in the composition of global growth away from the emerging markets and toward advanced economies. While USA growth is lower, an accelerating trend is expected to see “tapering” begin in coming months. Against that, business surveys, trade and industry data and GDP releases show a softening trend in the emerging markets. We also expect slower Chinese growth to continue into 2014.
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