Worldwide PMI surveys indicated that manufacturing once again broadly stagnated in April, with growth of business activity running at its lowest since mid-2016. New order inflows continued at one of the slowest rates since 2012 amid a further decline in worldwide exports.
Weak demand, meanwhile, pushed price pressures down to the lowest for two and a half years.
By country, Greece reported the strongest upturn, contrasting with Germany, which continued to see the steepest downturn, ensuring the Eurozone once again acted as a significant drag on the global manufacturing economy. The US moved up the