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Global private sector growth up slightly in July

08-04-2011 14:25 BJT

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A business survey shows global private sector growth accelerated slightly in July. The reason for the increase is faster expansion in the service sector offset weaker factory growth.

JP Morgan's Global All-Industry Output index nudged to a four-month high of 52.6 in July. The figure was at 52.3 in June. The index is based on the results of surveying purchasing managers worldwide. It remains above the 50 mark that divides growth from contraction for two years.

The pace of growth in the U.S. services sector fell unexpectedly in July to the lowest level since February last year. Earlier data also showed growth in the euro zone's dominant service sector eased to its weakest rate in nearly two years.

Editor:Li Wanran |Source: CNTV.CN

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