Eurozone businesses maintain steady growth

Business activity in the eurozone kept up a steady pace of growth in May, a survey has indicated, despite the pace of expansion slowing slightly. The latest Purchasing Managers' Index (PMI) from research firm Markit dipped to 53.9, down from 54.0 in April. A figure above 50 indicates expansion. However, the data suggested that the fortunes of businesses in France and Germany continue to diverge. Earlier, a similar survey indicated an improvement in Chinese manufacturing. The HSBC flash China Manufacturing PMI rose to 49.7 in May. Although this still indicates the sector is contracting, it was up from April's reading of 48.1 and the best figure for five months, according to a news agency.