Global economy grew nearly 3 percent in first quarter: PMI

(Reuters) – Global business activity accelerated last month, with solid performances in services and manufacturing suggesting the economy grew about 3 percent in the first quarter from a year earlier, a survey showed on Thursday.

Employees work at a Chinese automobile factory in Hefei

JPMorgan’s Global All-Industry Output Index, produced with Markit, rose to 53.5 from February’s 53.0, holding above the 50 mark that divides growth from contraction for the 18th month.

“PMI data suggest growth of global GDP (gross domestic product) is tracking at a pace of near 3 percent during the opening quarter of the year,” said David Hensley, a director at JPMorgan.  Read more

Categories: Economy, United States

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