EU sputters back to life

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Business activity in the Eurozone performed better than expected this month, helping to ease worries about a new recession.

But the latest Purchasing Managers Index, which measures economic output, shows companies cut their prices by the largest monthly drop in almost five years.

Activity in Germany rose to its highest for three months, but there was bleaker news out of France, where business activity fell for a sixth successive month, deteriorating at the fastest pace since February.