According to a report, the beginning of the year 2020 has seen a burst of growth in US business activity. This contrasts with slowing growth in many other major economies around the world.

Japan also saw a rise in business activity, helping pick up for the weak performance at the end of 2019. Europe was showing signs of slow growth in January, with exports from Europe stabilizing after a long decline. The service sector was still languishing.

The US economy is doing better than either Japan or Europe, and the prediction is that for the near future at least it will stay this way. The cooling down of the trade war between the US and China should also add a little boost to the economies of both countries and countries connected to them through trade.

IHS Markit, a data-gathering company, reported that its composite purchasing managers index in the US had reached 53.1 in January, up from 52.7 in December, the highest it has been in 10 months.

IHS also stated that, according to surveys, businesses in Europe and out will most likely remain slow and weak. Surveys of CFOs discovered confidence in the US market, but not as much confidence in the European and other markets. Some are expecting a stall in the 2020 economy.