Mumbai, June 4 -- The eurozone economy eked out another expansion in May, although the pace of growth slowed again. Business activity was restrained by continued weakness in demand for goods and services, limiting employment gains and pushing firms to continue running down backlogs of work.
While business confidence ticked higher, it remained relatively subdued. Eurozone inflation meanwhile cooled, although this was in large part due to falling costs and charges in the manufacturing sector.
The seasonally adjusted HCOB Eurozone Composite PMI Output Index fell to 50.2 in May, from 50.4 in April. Although this marked a fifth successive monthly reading above the 50.0 level and therefore in expansion territory, it pointed to an upturn that wa...