http://www.bloomberg.com/news/articles/2015-05-21/euro-area-recovery-stutters-as-german-growth-loses-momentum
The euro area’s economic recovery weakened for a second month in May as growth in Germany, the region’s largest economy, lost momentum. Markit Economics said on Thursday that its composite index of services and manufacturing in the euro zone slipped to 53.4 from 53.9 in April and 54 in March. While that’s above the 50 mark that divides expansion from contraction, it’s less than the reading of 53.9 forecast by economists in a Bloomberg survey. The German gauge dropped to 52.8 from 54.1.
Euro-area growth accelerated to 0.4 percent in the first quarter, and Markit said its surveys indicate a similar pace will be achieved in the current three months. Nevertheless, with global demand showing signs of faltering as Chinese manufacturing remains sluggish, the recovery in Europe isn’t yet assured even as it benefits from central bank stimulus and a weaker euro.
“The euro zone’s recovery lost some of its vigour in May,” said Chris Williamson, chief economist at Markit. “At the moment the extent of the slowing is not a major concern, but will no doubt be causing some nail-biting at the ECB as policymakers await signs that quantitative easing is the panacea the region needs.”