Euro-Area Manufacturing Expands Faster Than Estimated

Euro-area factory output expanded faster than initially estimated in January, led by Germany and France, as the currency bloc’s economic recovery gained traction.

An index based on a survey of purchasing managers in the manufacturing industry increased to 54 from 52.7 in December, London-based Markit Economics said in a statement today. That exceeds Markit’s initial estimate of 53.9 on Jan. 23. A reading above 50 indicates expansion.