Forex News: European Economic Confidence Weakens in May
May 31st, 2010 Posted in Market CommentsEconomic confidence in the 16-member euro area unexpectedly worsened in May as the region struggles to gather strength after Greece’s budget crisis forced governments to step up spending cuts to reduce deficits. Figures showed that confidence slip to 98.4 in May from 100.6 the previous month, marking the second time that the reading has weakened in the past five months, while services declined to 3 from a upward revision of 6 in the same time period.
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