Members commenced their discussion by noting that the data on the global economy released since the previous meeting had been mixed. GDP growth outcomes for the March quarter in some economies had been slightly stronger than the second half of 2018, while labour markets had remained tight. However, global trade and conditions in the global manufacturing sector had remained weak. New export orders had been little changed at subdued levels and growth in industrial production had slowed in many economies, including those economies in east Asia that are closely integrated with global supply chains. The US–China trade ... (full story)