global economy: Businesses recorded growth rates only slightly below the previous month record as the US continued to rebound from freezing weather in the spring that sent the economy recovery into reverse, according to The Guardian. Meanwhile analysts also said a fall in service sector activity growth in China last month to a record low would dent confidence in the global economy growth prospects and its ability to maintain recent rises in output during the second half of this year and A surge in activity across the US services sector in July fuelled by spending on new homes put the economy on track for a strong second half of 2014, according to a business survey. But the Markit purchasing manager index PMI contained warning signs that the 4% annualised GDP growth in the second quarter was unlikely to be maintained after service sector businesses reported a fall in confidence and a slowdown in job creation.
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