Weak global PMI for March rounds off worst quarter since 2012

Global economic growth was running at its weakest for over three years in the first quarter, according to PMI data. The JPMorgan Global PMI, compiled by Markit from its worldwide business surveys, rose to 51.3 in March, but the latest reading represented only a minor improvement on February's 40-month low of 50.8. At 51.6, down from 53.1 in the fourth quarter, the average PMI reading for the first three months of the year was the weakest calendar quarter since the end of 2012.