DATA SNAP: Euro-Zone Manufacturing Contraction Slows In June
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; nick.winning@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=kO8CanuSLXtXGr9ppgBt7Q%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
July 01, 2009 04:20 ET (08:20 GMT)
Copyright 2009 Dow Jones & Company, Inc.
By Nicholas Winning
Of DOW JONES NEWSWIRES
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; nick.winning@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=kO8CanuSLXtXGr9ppgBt7Q%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
July 01, 2009 04:20 ET (08:20 GMT)
Copyright 2009 Dow Jones & Company, Inc.
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