The release of the advanced estimate for Q1 GDP in the US and the Bank of Japan policy meeting lead the way in our… https://t.co/G45SQ5IOOd
Global economy suffers loss of momentum in March
Global economic growth slowed sharply to the weakest for over a year in March. The JPMorgan Global PMI™, compiled by IHS Markit, fell for the first time in six months, down sharply from 54.8 in February to a 16-month low of 53.3. The 1.5 index point drop was the steepest seen for two years. To put the decline in context, while the February PMI reading was consistent with global GDP rising at an annual rate of 3.0% (at market exchange rates), the March reading is indicative of 2.5% growth.
Inflows of new business and backlogs of work also rose to weaker extents than seen in the previous month. Employment growth remained more resilient, easing only marginally from the decade-high rates seen in prior months to suggest that firms continued to focus on expanding capacity to meet rising demand. Future expectations also remained elevated, suggesting that at least some of the slowdown may prove temporary. Bad weather was cited in many countries as curbing business activity in March.
Global PMI* output & economic growth
Global PMI indicators*
- Week Ahead Economic Preview: Week of 22 April 2019
- Japanese manufacturing's steep downturn extends into April
- IHS Markit flash US PMI signals weak start to second quarter
- Rebound hopes fade as flash Eurozone PMI signals slow start to second quarter
- UK pay growth hits decade high, but job market set to cool in coming months
- Falling US manufacturing output confirmed by official data
- Week Ahead Economic Preview: Week of 15 April 2019
- Softer growth of Malaysian industrial output points to slower GDP expansion
🇺🇸 US Composite Flash PMI ⬇️ to 31-month low of 52.8 in April (March: 54.6) as service sector growth saw a marked s… https://t.co/4AV0ukEgMu
🇪🇺 Flash Eurozone PMI falls ⬇️ to 51.3 in April (51.6 - Mar), with first data point for Q2 signalling further slugg… https://t.co/ntkAcw8RTR