Manufacturing data shows mixed picture of global economic growth

London

MANUFACTURING data painted a mixed picture of economic activity across the globe, with stronger currencies hurting exporters, but the growth momentum demonstrated at the start of the year appears to have only dwindled slightly.

The eurozone's boom has slowed a little further and Britain's factory activity slipped to its lowest in eight months, yet China surprisingly showed resilience amid fears that tighter regulations may slow growth.

"Things came in a bit better than we expected. We are seeing pretty strong global growth and demand," said Jacqui Douglas, chief European macro strategist at TD Securities.

Factories across the eurozone are still enjoying their best growth spell in almost two decades which, alongside price pressures at a near seven-year high, will be welcomed by policymakers at the European C…