Global economy sees worst quarter since 2012

The JPMorgan Global PMI™, compiled by Markit from its worldwide business surveys, held steady at 51.1 in June, rounding off the weakest quarter since the fourth quarter of 2012. The data point to global GDP rising at market prices at an annual rate of just 1.5%, below the long-run average of 2.3%. Emerging markets remained in an overall state of stagnation, continuing the trend seen over much of the past year. Developed world growth meanwhile slipped to the second-lowest in just over three years, maintaining the sluggish growth profile seen since February.