MW: Euro-zone June manufacturing PMI falls to 52.0
By William L. Watts
FRANKFURT (MarketWatch) -- Manufacturing activity across the 17-nation euro zone grew at its slowest pace in 18 months in June, the Markit purchasing managers index for the sector showed Friday. Manufacturing PMI declined to 52.0 from 54.6 in May, confirming a preliminary estimate. A reading of more than 50 signals growth in activity. "Over the past two months, output growth has weakened to the greatest extent since late 2008," said Chris Williamson, chief economist at Markit. "This reflects a combination of lackluster domestic demand in many countries, especially the austerity-hit periphery, as well as a near-stagnation of export sales."
