Euro-Area Manufacturing Slows on France as Spain Gains

Manufacturing in the euro area slowed more than initially estimated in June as a deepening of France’s downturn offset a rise in Spanish activity to a seven-year high.

A Purchasing Managers’ Index fell to 51.8 last month from 52.2, below a June 23 preliminary reading of 51.9, London-based Markit Economics said today. Manufacturing grew at the fastest pace since 2007 in Spain, while contracting for a second month in France.