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EZ services sector drives further acceleration in growth during May
A resurgent services economy helped to drive private sector growth higher during May. After accounting for seasonal factors, the IHS Markit Eurozone PMI® Composite Output Index recorded 57.1, up from 53.8 in April. Not only did May mark a third successive month of expansion, but the best recorded since February 2018. The upturn in the index was driven in the main by a noticeable acceleration of growth in services activity. May’s data indicated a second successive monthly rise in service sector output, and the best recorded for nearly three years. Nonetheless, despite seeing the slowest growth for three months, ... (full story)