The global composite index for November rose to 52.4, 0.1 points more than October (52.3). This is thirteenth month in a row that the global composite has topped 50, signaling business expansion. It is also a 3-month high.

The global service index registered 53.1, same as in October and extending a 22-month streak of expansion. This can be attributed to growth in both new orders (53.0) and new export business (51.4). Employment increased slightly (50.3). Input prices rose again in September, with the rate of inflation remaining high, leading to an increase in output prices.

The best performing nations were India, Ireland and US. China also among the nations recording expansion. The eurozone were among the lower rankings with Germany, France and Italy being the bottom 3.

Global employment was unchanged as the increased staffing seen in the service industry was offset by the layoffs in the manufacturing industry. workforce levels were lowered in the US, euro area, China and the UK. The strongest rates of job creation were registered in India and Spain.

Input price inflation eased to the lowest in a year. This reflects weaker cost increases in developed nations as the rate of inflation rose in developing nations. Output charges rose at the slowest pace seen in four years, similar to October.

After having fallen to a near-two-year low in September, future expectations rose in November to the highest since May.

JP Morgan Global Services PMI gives an overview of the global services sector. It is based on monthly surveys of over 5,500 executives from 15 of the world’s strongest economies, including the U.S., Japan, Germany, France and China which together account for nearly 80 percent of global services sector’s gross value added (GWA). It reflects changes in global output, employment, new business, backlogs and prices. The Global Services PMI is seasonally adjusted at the national level to control for varying seasonal patterns in each country and is produced by J.P. Morgan and Markit in association with ISM and the International Federation of Purchasing and supply Management (IFPSM).

Investors need to keep their fingers on the pulse of the economy because it dictates how various types of investments will perform. The J.P. Morgan Global Services PMI provides advance insight into the global services sector, which gives investors a better understanding of business conditions and valuable information about the economic backdrop of global markets. The stock market likes to see healthy economic growth because that translates to higher corporate profits. The bond market prefers less rapid growth and is extremely sensitive to whether the economy is growing too quickly and causing potential inflationary pressures. The PMI data are also used by many Central Banks to help make interest rate decisions.

The JP Morgan Global Services PMI data give a detailed look at the manufacturing sector, how busy it is and where things are headed. Since the services sector accounts for the lion’s share of GDP of many advanced economies, this report has a big influence on the markets. In addition, its sub-indexes provide a picture of global output, employment, new business, backlogs and prices.