Markit's worldwide PMI surveys, designed to accurately measure the pace of economic growth in advance of official data such as gross domestic product, signalled the weakest rate of global economic expansion for seven months in November. However, divergent growth trends persisted. The US and UK markedly outperformed all other major economies, the rest of the world largely stagnating on average. Such growth divergences look set to drive exchange rate and interest rate differentials in coming months.

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