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May 08, 2013, 09.08 AM IST | Source: Reuters

Global economic growth slowed in April: PMIs

Global economic activity eased to its weakest pace in six months during April as expansion slowed in China, the euro zone, Japan, India and Russia, according to business surveys published on Tuesday.

Global economic growth slowed in April: PMIs

Global economic activity eased to its weakest pace in six months during April as expansion slowed in China, the euro zone, Japan, India and Russia, according to business surveys published on Tuesday.

The Global Total Output index, produced by JPMorgan with research and supply management organisations, fell to 51.9 in April from 53.0 in March. The index has, however, held above the 50 mark that divides growth from contraction for nearly four years.

"The slowdown was broad-based across manufacturers and service providers alike, as demand growth weakened," said David Hensley at JPMorgan.

The new orders sub-index fell to 51.7 from 52.2, its lowest reading since October.

A global index covering services firms dropped to 52.1 last month from 53.4. A similar manufacturing PMI released on Thursday showed growth slowed to a near stall last month.

Monday's European purchasing managers' indexes (PMIs) suggested the euro zone is on course for a worse downturn in the current quarter, with Germany now suffering a contraction in business activity that has long dogged France, Italy and Spain.

In China, the survey covering services from banks to hotels showed April's growth was the weakest since August 2011, while a US PMI on Friday put growth at its slowest in nine months.

The index combines survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.

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