Euro-Area Slump Persists as Chinese Factories Recover

Euro-area services and manufacturing output shrank for a 10th month in November as the debt crisis hurt confidence, underscoring divergences in the global economy as China’s factories showed the first growth in more than a year.

A composite index based on a survey of purchasing managers in both industries in the euro zone was little changed at 45.8 compared with 45.7 in October, London-based Markit Economics said today. A Chinese manufacturing index climbed to 50.4 from 49.5 last month, HSBC Holdings Plc and Markit said in a separate report. A reading above 50 indicates expansion.