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Economic Data and Geopolitics Cast Doubt on Previous Euro Forecasts
Until recently, the Eurozone economy had
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Until recently, the Eurozone economy had been demonstrating solid growth, supporting forecasts for further increases in GDP and inflation. It was expected that the ECB would be able to raise interest rates four more times before the end of the year, which would have supported the euro.However, the latest May business activity data came in significantly weaker than expected. Although the manufacturing sector remained in expansion territory, growth slowed from 52.2 to 51.4 points. The services sector showed an even
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Kuvat Raharjo,
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