Eurozone and China show signs of slower growth

Eurozone retail sales rose in May but it has been a slow recovery over the past year. From Bloomberg on Monday:

European retail sales rose in May as households in Germany, France and Spain stepped up spending.

Sales in the 16-nation euro area rose 0.2 percent from April, when they fell 0.9 percent, the European Union’s statistics office in Luxembourg said today. Economists had forecast a gain of 0.3 percent, the median of 19 estimates in a Bloomberg News survey showed. In the year, sales rose 0.3 percent.

And eurozone economic growth could be slowing further. Again from Bloomberg:

Growth in Europe’s services and manufacturingindustries slowed for a second month in June, adding to indications the recovery is losing momentum.

A composite index based on a survey of euro-area purchasing managers in both industries fell to 56 from 56.4 in May, London- based Markit Economics said today. That’s in line with an initial estimate published on June 23. A reading above 50 indicates expansion...

An index of services in the euro region fell to 55.5 from 56.2, today’s report showed. A gauge of euro-area manufacturing declined to 55.6 from 55.8 in the previous month, Markit said on July 1.

Even China is seeing signs of slowing. Bloomberg reports:

China’s auto sales grew at a slower pace in June and a services-industry index slid to a 15-month low, adding to signs that the economy leading the world recovery is cooling.

Passenger-car purchases rose 10.9 percent from a year earlier, down from May’s 25 percent gain, the China Automotive Technology & Research Center said today. The services-industry measure fell to 55.6 from 56.4, HSBC Holdings Plc and Markit Economics said in an e-mailed statement...

The Shanghai Composite Index fell 0.8 percent to close at a 15-month low, extending this year’s decline to 28 percent.