Economics
Euro-Area Manufacturing, Services Contract for 10th Month
This article is for subscribers only.
Euro-area services and manufacturing output shrank for a 10th month in November, suggesting the economy may struggle to pull out of a recession as governments toughen spending cuts to fight the sovereign-debt crisis.
A composite index based on a survey of purchasing managers in both industries rose to 46.5 from 45.7, London-based Markit Economics said today. That’s above an initial estimate of 45.8 published on Nov. 22. A reading below 50 indicates contraction.