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The eurozone's latest batch of business surveys suggest the recovery might have stopped picking up speed

hollande merkel
Germany's Chancellor Angela Merkel (L) talks with French President Francois Hollande during the Asia-Europe Meeting (ASEM) in Milan October 16, 2014. REUTERS/Alessandro Garofalo

It looks like the eurozone recovery took a big of a break this monnth.

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The bloc's purchasing managers' index (PMI) score for May came in at 53.3 for services, better than expected and 52.3 for manufacturing, worse than expected.

Anything over 50 signals growth, and anything below hints at a recession in that sector.

This is the "flash" estimate so we'll have to wait for a more detailed country-by-country breakdown. But we did get PMI readings for both France and Germany.

Germany's latest PMI figures missed expectations by quite some way.

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The services sector came in with a score of 52.9 (53.9 expected) and manufacturing came in at 51.4 (52 expected).

That's not a bullish sign for the European powerhouse economy.

France's figures offer a mixed picture of how Europe's second largest economy is going.

Markit's purchasing managers' index (PMI) figures have the services sector at 51.6 (a little weaker than expected) and manufacturing at 49.3 (a little stronger).

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Analysts were expecting a score of 48.5 for manufacturing and 51.9 for services, improvements on the 48 and 51.4 recorded respectively for April.

Perhaps most impressive were the jobs figures — though still fairly weak, they're good news in France, which has been battling with high unemployment. Here's Markit's release: 

Employment in the French private sector increased for a third successive month in May. Although quickening to the sharpest since December 2011, the rate of jobs growth remained marginal.

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