Mumbai, May 6 -- The euro area economy eked out further growth at the start of the second quarter, but the pace of expansion was again marginal and even slowed on the month.
The latest HCOB PMI survey data, compiled by S&P Global, revealed a sustained upturn in private sector business activity across the currency union since the beginning of the year, but the trend remained subdued and well below its long-term average.
oft demand conditions continued to limit the speed of growth, leaving companies to rely on backlogs of work as a means to drive output higher. Nevertheless, employment ticked up for a second consecutive month. There was a marked drop in business confidence, however, with year-ahead expectations slipping to an 18month low.
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