Economics
Euro-Area Manufacturing Activity Shrinks Less Than Estimated
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Euro-area manufacturing output contracted less than initially estimated in May, adding to signs the currency bloc’s economy is beginning to emerge from a record-long recession.
A gauge of manufacturing in the 17-nation euro area increased to 48.3 last month from 46.7 in April, London-based Markit Economics said today. That’s above an initial estimate of 47.8 on May 23. The gauge has been below 50, indicating contraction, since July 2011.