Global economy sees weakest quarter since 2012

Global economic growth failed to pick up from the sluggish pace seen in May, indicating that the world remains mired in the worst growth phase for three-and-a-half years. Once again, the lack of any growth driver was evident: weak rates of expansion in the US and UK, linked in part to rising political uncertainty, a struggling recovery in the Eurozone and renewed downturn in Japan coincided with an ongoing near-stagnation of the emerging markets.