Global Economic Growth Accelerates to 16-Month High

Global economic growth accelerated sharply at the start of the third quarter. The rate of expansion in output hit a 16-month high, as manufacturers and service providers benefited from improved inflows of new business.

The expansion remained uneven by region, however. Stronger growth was registered in the US* and the UK, while the eurozone stabilized. This was partly offset by weaker performances in Asia and a number of emerging markets.