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Europe's Economic Stagnation Persists, Latest Business Surveys Say

The Eurozone economy showed signs of growth in May, with business activity expanding at the fastest pace in a year, according to recent surveys. This growth was particularly driven by Germany, where business activity rebounded after a contraction in April, signaling a recovery just before the European Parliament elections. The HCOB Flash Eurozone PMI rose to 52.3 from 51.7, indicating expansion as any reading above 50 signifies growth. The services sector was a significant contributor to this uptick, with the PMI for services reaching 53.3, the highest since May of the previous year. However, manufacturing continued to struggle, with the PMI at 47.4, still indicating contraction. Despite the overall positive trend, concerns remain about the sustainability of this growth due to persistent issues like high interest rates, geopolitical tensions, and the upcoming elections which could influence economic policies.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/eurozone-ekes-out-growth-as-germany-regains-footing-ahead-of-election-business-surveys-say/ar-AA1zv7Vn ]