Preliminary PMIs published by Markit today suggest that, having slowed sharply in February, manufacturing growth in advanced economies remained very weak in March. The flash manufacturing PMIs rose slightly for the euro-zone and US, but fell in Japan. As a result, a weighted average of the three edged down from 51.0 to 50.9, its lowest level since June 2013. On past form, this is consistent with GDP growth in advanced economies of just under 1%.
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