Global growth hit by steepest EM downturn for six years

Global economic growth slowed for a third month running in June, according to PMI data. The JPMorgan Global PMI™, compiled by Markit, sank to its lowest since January, to signal a rate of global GDP growth of approximately 2% pa. Developed world growth hit the weakest since January, though remained solid. The same cannot be said for emerging markets, which saw the steepest downturn for just over six years.