Global business growth at five-month low as prices jump: PMI

[LONDON] Global business growth was at its weakest since the start of the year in June as firms hiked prices at the fastest rate in nine months, a survey showed on Friday.

JPMorgan's Global All-Industry Output Index, produced with Markit, fell to a five-month low of 53.1 in June from May's 53.6. It has been above the 50 mark that divides growth from contraction since October 2012.

The sub-index measuring output prices rose to 51.3, its highest reading since September.

A global PMI covering the service industry also fell to a five-month low, coming in at 53.5 compared to May's 54.0. A sister survey on Wednesday showed manufacturing growth slowed last month.

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

REUTERS