0.2% contraction expected, don't underestimate this number, confidence is more important than gold

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Eurozone's economic activity contracted at the fastest pace in over two years in May
Eurozone's May Composite PMI drops to 47.5, the lowest in two and a half years, with the Services PMI falling to 46.4, contracting for two consecutive months. War has driven up living costs and energy prices, causing input price inflation to reach a three-and-a-half-year high. GDP is expected to shrink by approximately 0.2% in the second quarter.
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