Euro-Area Manufacturing Near Stagnation as ECB Readies Stimulus

Euro-area manufacturing expanded less than initially estimated in December as growth rates for output, new orders and employment remained near stagnation.

A final reading of a Purchasing Managers’ Index for the industry stood at 50.6 in December, London-based Markit Economics said today. While that’s up from a 17-month low of 50.1 in November, it’s below a 50.8 estimate released on Dec. 16 and barely above the mark of 50 signaling expansion.