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Euro-area services, manufacturing contracted in August

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Bloomberg
Last Updated : Jan 25 2013 | 4:04 AM IST

Euro-area services and manufacturing output contracted for a seventh straight month in August.

A composite index based on a survey of purchasing managers in both industries in the 17-nation Euro area rose to 46.6 from 46.5 in July, London-based Markit Economics said in an initial estimate.

A reading below 50 indicates contraction. Economists had forecast an unchanged reading, the median of 19 estimates in a Bloomberg News survey showed.

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First Published: Aug 24 2012 | 12:00 AM IST

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