World Economy

Growth Returns

Growth ReturnsGrowth Returns

The economic slowdown seen in the first quarter of this year is gradually being reversed, according to a survey of Scottish purchasing managers, BBC reported. The Bank of Scotland found both employment and new business increased in April. There was marginal growth in business activity for service sector companies. But manufacturers registered a modest contraction, with exporters appearing to suffer from the effects of low growth in the eurozone. The bank’s monthly PMI - which measures changes in combined manufacturing and services output - improved to 50.7 during April, from March’s 49.4.Any reading above 50 suggests economic expansion.