Economic growth in the eurozone edged down in May to a three-month low because of a drop in industrial production, according to a closely watched survey published on Tuesday.
For the fifth month in a row, growth in the 20-country single currency zone remained in positive territory, but growth is now at its lowest level since February.
Meanwhile, inflation remains stubbornly high, maintaining pressure on the ECB to raise rates. Data from the flash Eurozone purchasing managers’ index (PMI) survey published by S&P Global fell to 53.3 in May from 54.1 in April. A figure above 50 indicates growth.—AFP
