Developed world powers steady global upturn at start of third quarter

The global economy saw growth ease very slightly for a second successive month in July but nevertheless enjoyed a solid start to the second half of 2017, according to the latest PMI data. The divergence between the developed and emerging markets remained the widest seen for one-and-a-half years, amid subdued growth in the latter, underscoring the continued relative outperformance of the developed world, and the eurozone in particular.

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