Economics
Euro-Area Manufacturing Contracted for 10th Month in May
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Euro-area manufacturing contracted for a 10th month in May as the economy struggled to regain strength amid the deepening debt crisis.
A gauge of manufacturing in the 17-nation euro area fell to 45.1 from 45.9 in April, London-based Markit Economics said today. That’s the lowest since mid-2009. It had previously reported the May output indicator at 45. A reading below 50 indicates contraction.