Euro zone economic contraction slows

There’s been a little bit of good news on the euro zone economy.

The latest data suggests a slight easing in the region’s economic contraction in March. That was not expected by financial analysts. The Flash Euro zone Purchasing Managers Index shows activity in the services and manufacturing sectors still falling but at a slower rate. Even so, companies coping with sinking demand and the reluctance of banks to lend continued to slash jobs to cut their costs.

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