Economics
Euro-Area Factory Slump Eases in April as Italy Exceeds Estimate
- Italian manufacturers saw growth in new orders, hiring
- Euro factory output contracting at 1 percent quarter rate
This article is for subscribers only.
The euro area’s manufacturing slump showed tentative improvement in April as Italy’s contraction slowed markedly and French industry stopped shrinking.
A Purchasing Managers’ Index came in at 47.9 in April, up from March and a touch above both economists’ estimates and a previous reading for the month. It was still below the 50 level that would indicate expansion.