Manufacturers in Europe and China tapped the brakes this month and price pressures eased, as tighter policy measures to control inflation began to bite, data released Monday indicated.
Preliminary purchasing managers’ surveys pointed to marginally slower economic growth in the euro zone and in China in the second quarter. Growth in the common currency bloc’s dominant service sector also slowed more sharply than expected.
But policymakers will take some cheer from the fact that prices did not rise so steeply in May.
For more: Slowing China Weighs on European Growth as Well - NYTimes.com
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