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Global trade near-stabilises at the end of first quarter
The worldwide Purchasing Managers' Index (PMI) surveys compiled by S&P Global Market Intelligence indicated a near steadying of global trade in March. Although export orders for goods and services have now fallen continually for just over two years, the pace of decline eased further in March to the slowest in the current 25-month sequence to indicate a near-stabilisation of conditions. The seasonally adjusted Global PMI New Export Orders Index posted 49.8 in March, up from 49.6 in February. The uptick in the index, albeit in sub-50.0 territory, was attributed to both an easing of the manufacturing trade downturn and ... (full story)