Chris Williamson, chief business economist at S&P Global Market Intelligence, said that preliminary PMI data for December showed that recent economic growth is losing momentum. Although the survey data showed that the GDP growth rate in the fourth quarter was about 2.5% per annum, growth has now been slowing for two consecutive months. As new sales growth slows sharply ahead of the holiday season, economic activity is likely to slow further as we enter 2026. There are also widespread signs of economic weakness. The inflow of new orders in the huge service sector has almost stagnated, while factory orders have also declined for the first time in nearly a year. While manufacturers continue to report increased production, the decline in sales indicates that current production levels are unsustainable, and production will need to be reduced unless demand recovers in the new year. Service providers reported that sales growth in December was one of the slowest months since 2023.

Chris Williamson, chief business economist at S&P Global Market Intelligence, said that preliminary PMI data for December showed that recent economic growth is losing momentum. Although the survey data showed that the GDP growth rate in the fourth quarter was about 2.5% per annum, growth has now been slowing for two consecutive months. As new sales growth slows sharply ahead of the holiday season, economic activity is likely to slow further as we enter 2026. There are also widespread signs of economic weakness. The inflow of new orders in the huge service sector has almost stagnated, while factory orders have also declined for the first time in nearly a year. While manufacturers continue to report increased production, the decline in sales indicates that current production levels are unsustainable, and production will need to be reduced unless demand recovers in the new year. Service providers reported that sales growth in December was one of the slowest months since 2023.