The euro zone’s economic recovery lost a little momentum last month, according to surveys that showed only modest growth in German and French businesses.
Data from non-euro zone Britain impressed again, however, and German industrial orders jumped underlining the uneven nature of overall European recovery.
Wednesday’s purchasing managers’ indexes (PMIs) from Markit showed the pace of growth in euro zone businesses slipped last month, although not nearly as badly as first projections.
Taken as a whole, the indexes pointed to fragile economic growth that will do little to ease the pressure on the European Central Bank to take some action, although not perhaps at its policy meeting on Thursday.
With surprisingly low inflation last month, speculation in markets and among economists has grown that the ECB is primed to stimulate the economy again – perhaps next month.