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Euro area economy returns to growth for first time since May 2023
The euro area economy moved back into expansion territory at the end of the first quarter, halting a sequence of contraction stretching back to June last year, according to the latest HCOB PMI® survey. Renewed growth in business activity was aided by a stabilisation of demand and continued efforts to clear backlogs of work, underlying data showed. A third successive monthly gain in net euro area employment was also recorded amid a continued resurgence in business confidence. Expectations for business activity were at their most optimistic since February 2022 during March. An easing of inflationary pressures was ... (full story)