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Eurozone economic recovery gathers pace as new orders rise at fastest rate in over a year
The economic recovery in the eurozone gained momentum in May, according to provisional PMI survey data. Faster increases in business activity, new orders and employment were all recorded midway through the second quarter, while business confidence hit a 27-month high. Meanwhile, rates of inflation of both input costs and output prices softened from April, but remained above pre-pandemic averages in each case. Growth continued to be centred on the services sector, but manufacturing production neared stabilisation in May, falling only marginally and to the least extent in the current 14-month period of contraction. ... (full story)