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Sharp fall in eurozone economic confidence

Sharp fall in eurozone economic confidence
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Economic confidence in the eurozone fell sharply in May, according to surveys carried out by the European Commission.

Businesses that were questioned said they will not be investing and hiring new workers in coming months.

Confidence among retailers, service providers and builders fell.

It was down by the most in Italy and the Netherlands, with smaller declines in France, Germany and Spain.

Business sentiment across the entire 27-country European Union also fell.