Economics
Euro-Area Manufacturing Contracts, Adding to Recession Signs
This article is for subscribers only.
Euro-area manufacturing output contracted in October, adding to signs a recession in the currency bloc may extend into next year as leaders struggle to tackle the sovereign-debt crisis.
A gauge of manufacturing in the 17-nation euro area fell to 45.4 from 46.1 in September, snapping two months of advances, London-based Markit Economics said today. That compares with an initial October estimate of 45.3 published on Oct. 24. A reading below 50 indicates contraction.