Global manufacturing stagnates at start of second quarter

Global PMI data indicated a near-stagnation of the manufacturing economy in April. The JPMorgan PMI, compiled by Markit from its worldwide business surveys, fell from 50.6 in March to 50.1, barely above the no-change threshold of 50.0. The latest reading was the lowest since December 2012 with the exception of the stagnation seen in March of this year.