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Global business growth picked up some speed in April: PMI
[LONDON] Global business growth picked up a little speed in April as near stagnation in manufacturing was offset by accelerating services activity, a survey showed on Friday.
JPMorgan's Global All-Industry Output Index, produced with Markit, nudged up to 51.6 in April from March's 51.5. It has been above the 50 mark that divides growth from contraction since late 2012.
"The April PMI surveys suggest that global economic growth maintained its subdued start to 2016," said David Hensley, a director at JPMorgan.
A PMI covering services rose to 51.9 from 51.5, but a sister survey published on Tuesday showed global manufacturing growth nearly stalled in April.
The global PMIs combine survey data from countries including the United States, Japan, Germany, France, Britain, China and Russia.