MW:Euro-zone June manufacturing PMI steady at 45.1
By William L. Watts
FRANKFURT (MarketWatch) -- Manufacturing activity across the 17-nation euro zone last month contracted at the same pace seen in May, according to the Markit purchasing managers's index for the sector released Monday. Manufacturing PMI came in at 45.1, up from a preliminary June reading of 44.8 and unchanged from a nearly three-year low in May. A reading of less than 50 indicates a contraction in activity. The June index "suggests that the goods-producing sector contracted by around 1% in the second quarter, with this steep rate of decline looking set to accelerate further as we move into the second half of the year," said Chris Williamson, chief economist at Markit.
