Wednesday 1 July 2009

DATA SNAP: Euro-Zone Manufacturing Contraction Slows In June

DATA SNAP: Euro-Zone Manufacturing Contraction Slows In June

By Nicholas Winning

LONDON (Dow Jones)--The contraction in euro-zone manufacturing output moderated for the fourth consecutive month in June, although improvements in France were offset by ongoing weakness in Germany and Italy, final data from Markit Economics showed Wednesday.

The purchasing managers' index for the manufacturing sector recovered to a nine-month high of 42.6 in June from 40.7 in May, topping the preliminary June reading of 42.4, Markit said.

Although the result was stronger than the market consensus estimate of 42.4 from a Dow Jones Newswires survey of economists last week, it marked the 13th consecutive reading below the neutral 50.0 level and extended the longest period of recession in the sector in the survey's history.

-By Nicholas Winning and Ilona Billington, Dow Jones Newswires; +44 207 842 9498;

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(END) Dow Jones Newswires

July 01, 2009 04:20 ET (08:20 GMT)

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