Gelonghui May 23| Cyrus de la Rubia, chief economist at Commerzbank Hamburg, saidrealisticcarcrashToday's eurozone data couldn't look better. The composite PMI for May showed that the euro zone economy has grown for three consecutive months and is gathering further strength. It is encouraging to note that new orders are growing at a healthy rate, and corporate confidence is reflected in the steady pace of recruitment. The ECB also received some good news as inflation in service sector input and output prices slowed compared with the previous month, which will support the ECB to cut interest rates at its June meeting. He believes the euro area is moving in the right direction. Taking into account PMI data in GDP forecasts, the euro zone is likely to see a 0.00 percent decline in the second quarter.realisticcarcrash.3%, and cast away the spectre of a recession. Growth was mainly driven by the service industry, whose expansion extended to four months. Manufacturing is playing a diminishing role as a stumbling block to the economy, and optimism about the industry's future output is further strengthened. With all of this, GDP growth of nearly 1% this year seems reasonable, with even some rising risks.
