July 1 (Bloomberg) -- European manufacturing growth slowed
for a third month in June, adding to signs that the region’s
economy is losing some momentum.
A manufacturing gauge based on a survey of purchasing
managers in the 17-nation euro region fell to 52 from 54.6 in
May, London-based Markit Economics said today. That’s the lowest
in 18 months. A reading above 50 indicates growth.
The euro-area recovery is cooling as European leaders
struggle to contain a worsening Greek debt crisis. In China and
India, the fastest-growing major economies, manufacturing growth
also weakened last month, data showed today, while economists
estimate U.S. manufacturing expanded at a slower pace, too.
The data “highlighted a summertime slowdown in the German
manufacturing sector and a continued reversal of the strong new
order growth seen earlier in the year,” Tim Moore, senior
economist at Markit, said in a statement. “A less-favorable
export environment weighed” on Germany in June.
for a third month in June, adding to signs that the region’s
economy is losing some momentum.
A manufacturing gauge based on a survey of purchasing
managers in the 17-nation euro region fell to 52 from 54.6 in
May, London-based Markit Economics said today. That’s the lowest
in 18 months. A reading above 50 indicates growth.
The euro-area recovery is cooling as European leaders
struggle to contain a worsening Greek debt crisis. In China and
India, the fastest-growing major economies, manufacturing growth
also weakened last month, data showed today, while economists
estimate U.S. manufacturing expanded at a slower pace, too.
The data “highlighted a summertime slowdown in the German
manufacturing sector and a continued reversal of the strong new
order growth seen earlier in the year,” Tim Moore, senior
economist at Markit, said in a statement. “A less-favorable
export environment weighed” on Germany in June.
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