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Surveys highlight recovery concerns

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Surveys highlight recovery concerns

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Worries are emerging about the durability of Europe’s recovery in the face of government austerity measures.

That has been illustrated by key business surveys.

The latest survey of purchasing managers in the euro zone showed private sector firms expanded at a slightly slower pace in June.

And business expectations in the region’s dominant services sector fell to its lowest since July last year.

There was feeble demand for goods and services from consumers in the bloc’s biggest economy, Germany, while a separate survey showed confidence in France’s factories unexpectedly declined.