Eurozone's business growth eases in May

(MENAFN) Eurozone business growth lost a little momentum last month despite companies cutting prices, but unemployment has fallen across the bloc with firms taking on staff to meet existing demand, Arab News reported.

The deceleration in growth will be disappointing for the European Central Bank, which was expected to leave policy unchanged, coming just a few months after it embarked on a trillion-dollar quantitative easing program .

"The economy is in better shape than it was last year due to a combination of lower oil prices, weaker exchange rate and improvement in confidence," said analysts at BNP Paribas.