Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Euro-Area January Manufacturing Contracts Less Than Estimated

Feb. 1 (Bloomberg) -- Euro-area manufacturing output contracted less than estimated in January, adding to signs the currency bloc’s economy is beginning to emerge from a recession.

A gauge of manufacturing in the 17-nation euro area rose to 47.9 from 46.1 in December, London-based Markit Economics said today. That’s above an initial estimate of 47.5 on Jan. 24. A reading below 50 indicates contraction. The gauge has been below 50 for 18 months.

Euro-area economic confidence in January rose to highest level since June, with sentiment among manufacturers also at a seven-month high. The currency area’s economy will stagnate in the first three months of this year after contracting for a third successive quarter at the end of 2012, according to the median of 26 economists’ forecasts in a Bloomberg News survey.

SAP AG, the biggest maker of business-management software, on Jan. 23 forecast at least a 12 percent gain in full-year earnings as the company adds Internet-based programs to attract users.

To contact the reporter on this story: Patrick Henry in Brussels at phenry8@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.