The strong growth momentum of the global economy was sustained at the beginning of the second quarter of this year, showed the PMI survey data. This was despite signs of slower growth in the emerging markets.
Out of the four biggest developed world economies, growth was driven by the euro area, with the U.K. close behind, noted Markit. Meanwhile, the U.S. and Japan recorded slower but stable growths, indicating towards a widespread, strong developed world upturn at the beginning of the second quarter.
Emerging market growth had significantly rebounded in the first quarter of 2017, but the April momentum was slow, although with a mixed bag of PMI surveys. Subdued growth was seen in Russia, China and India; however, Brazil saw a welcome return to growth following a two-year recession.
“May’s PMI data will provide key insights into second quarter economic trends, and could prove important triggers for sentiments regarding ECB, Bank of England and FOMC policy trajectories”, says IHS Markit.
