Eurozone business growth slows, but not in Germany, France

London

BUSINESS growth across the eurozone dipped to a 16-month low in May but stronger showings from Germany and France suggest it is the smaller member countries that may be struggling.

Offering the latest evidence that a strong acceleration in growth in the first three months of the year was only temporary, Markit's flash Composite Purchasing Managers' Index edged down to 52.9 from April's 53.0.

While essentially stable - and still indicating growth - the reading was the lowest since the start of 2015. It ran against expectations in a Reuters poll, which had pre…