Eurozone growth stumbles but firms more optimistic

London

EUROZONE business growth was weaker than expected this month but firms increased staffing levels at the fastest rate in four years, suggesting that they were becoming increasingly optimistic, a survey showed on Thursday.

Any signs of growth, alongside the survey showing firms barely cut prices after reducing them for over three years, will cheer European Central Bank policymakers coming just two months after they launched a trillion-euro stimulus programme. "There will be a lot of people disappointed that we have an easing in growth for the second month but it needs to be put in context that it is a reasonable number," said Chris Williamson, survey compiler and Markit's chief economist. "The broader picture is that the recovery remains on track - it's doing rather well."