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Global PMI at ten-month high while price pressures remain elevated
The global economic expansion unfolded at the fastest pace in ten months at the start of the second quarter of 2024, supported by broad-based growth across both manufacturing and service sectors. Selling price inflation remained elevated, however, even as it eased in April. The J.P.Morgan Global PMI Composite Output Index - produced by S&P Global - rose to 52.4 in April, up from 52.3 in March. The headline PMI, despite remaining below the survey's long-run average of 53.2, is the highest in ten months and is consistent with annualized quarterly global GDP growth of approximately 2.7%. The latest acceleration in ... (full story)