The global economy is regaining some of its footing, with recent economic and trade developments in the U.S. and China offering some comfort that the slowdown is easing.
U.S. business activity improved to a five-month high in December, a new survey showed Monday, and China’s industrial output and consumer spending accelerated in November.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite closed Monday at the highest levels ever, their latest milestones in a long string of records this year. Europe’s benchmark Stoxx Europe 600 index set its first new high in more than four years, though new data showed the continent remains mired in low growth.
The economic measurements came as the U.S. reached a limited trade deal with China and put the finishing touches on a new trade pact with Mexico and Canada. Lawmakers in Washington also reached a deal to keep the government operating through September, avoiding a repeat of the government shutdown in early 2019. The result of the U.K.’s election also eased some uncertainty about how and when the country would leave the European Union. Meanwhile, the U.S. Federal Reserve said it would pause interest-rate cuts, suggesting the economy has found stability.
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