Major economies end first-quarter on weaker note

LONDON/BEIJING (Reuters) - Major economies in Asia and Europe finished the first quarter on a weaker note, with key manufacturing surveys fuelling expectations policymakers may be forced to act in coming months to prop up faltering growth. Factories across Europe eased back on the throttle in March while China's vast manufacturing industry contracted for the third month, surveys showed, although a similar poll due later on Tuesday from the United States is expected to show a pick-up. "The PMIs have given a steer on the Chinese economy for a while and it is looking like the People's Bank of China will take some action," said Philip Shaw at Investec. Output again rose across the board in the euro zone, suggesting its recovery is becoming entrenched, but Markit's Purchasing Managers' Index (PMI) also revealed that factories were once more cutting prices.

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