Global manufacturing and service sector activity expanded in August at the same pace as in July, with both the U.S. and euro zone doing better than Asia, according to purchasing manager surveys. "Scratching beneath the headline numbers, however, reveals an ongoing disparity between the relatively strong performance of the developed nations whereas growth in the emerging markets is quite weak," said David Hensley, a director at JPMorgan. JPMorgan's Global All-Industry Output Index, produced with private data vendor Markit, held steady at July's 53.7 last month and has been above the 50 mark that divides growth ... (full story)