Euro-Area Manufacturing Contracts, China, Russia Rise
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Euro-area manufacturing kept contracting in November while factory output rose in China and Russia and may have expanded in the U.S., underscoring the divergence of the global economic recovery.
Manufacturing output in the 17-nation euro area shrank for a 16th month, with a gauge of manufacturing rising to 46.2 from 45.4 in October. In China the Purchasing Managers’ Index climbed 50.6 and in Russia it expanded for a 14th month. A reading below 50 indicates contraction.