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Euro-Area Manufacturing Near Stagnation Signals Slowdown Ahead

An employee uses a yarn bobbin to separate lace strands inside a factory in Calais.
Photographer: Marlene Awaad/Bloomberg

Manufacturing in the 19-nation euro area barely grew in May, damping confidence in the strength of the region’s economic recovery, according to Markit Economics.

A Purchasing Managers Index slipped to 51.5 from 51.7, the London-based company said on Wednesday. The reading is in line with a May 23 estimate and just above the 50 threshold that divides expansion from contraction.