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Eurozone business growth gains pace

Published Thu, Oct 23, 2014 · 09:50 PM
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EUROZONE businesses performed much better than anyone expected this month but did so by slashing prices again, and optimism about the future fell to its lowest level in over a year, surveys showed on Thursday.

The growth data will provide some relief for the European Central Bank (ECB) but news that firms cut prices for the 31st month, and at the steepest rate than in almost five years, will stoke fears of deflation in the region.

Markit's Composite Flash Purchasing Managers' Index (PMI), based on surveys of thousands of companies across the region and seen as a good indicator of…

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