Euro-Area Recovery Loses Pace as Manufacturing Weakens: Economy

The euro-region recovery showed signs of cooling this month, with weaker-than-forecast manufacturing and services keeping pressure on the European Central Bank to loosen policy.

The factory gauge for the euro region unexpectedly slipped to 53 from 54 in January, while the services measure rose less than estimated to 51.7 from 51.6, Markit Economics said today. A composite gauge fell to 52.7 from 52.9. The figures follow a report from China showing manufacturing growth slowed to the least in seven months.