US and Eurozone business growth slows, while China's factories contract

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Growth has slowed across the major economic centres. The US and Eurozone have seen a slowdown in business while China’s manufacturing sector has also contracted. May has been a weak month. Analysts are suggesting that more aggressive stimulus packages should be invoked to give a little kick-start, particularly in China. And talking of China, it appears that everyone has now bought a smartphone – the market contracted by 8% compared with the previous quarter, for the first time. The key for the hi-tech market now is to make China’s consumers buy a better phone.