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ECONOMICS COMMENTARY
May 22, 2014
PMI edges lower in May but eurozone remains on course for best quarter for three years
The eurozone is enjoying its best calendar quarter for three years, according to the Markit Eurozone PMI. Despite the 'flash' PMI estimate for May falling from 54.0 in April to 53.9, the latest reading was the second-strongest seen over the past three years and leaves the average for the second quarter so far at the highest since the second quarter of 2011.
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