Economic Growth Slows as December PMI Data Reveals Concerns

According to Odaily, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, has indicated that preliminary PMI data for December shows a deceleration in recent economic growth. Although survey data suggests an annualized GDP growth rate of approximately 2.5% for the fourth quarter, growth has slowed for two consecutive months. As new sales growth sharply declines ahead of the holiday season, economic activity may further decelerate entering 2026. Signs of economic weakness are widespread, with the influx of new orders in the large service sector nearly stagnant and factory orders experiencing their first decline in nearly a year. While manufacturers continue to report output growth, the drop in sales suggests that current production levels are unsustainable unless demand recovers in the new year. Service providers have reported that December's sales growth is among the slowest since 2023.