Europe Manufacturing Cools More Than Estimated as France Shrinks

Manufacturing in the euro area slowed more than initially estimated in May amid weakness in France, adding to evidence of the region’s uneven recovery as the European Central Bank weighs more stimulus to shore up growth and inflation.

A Purchasing Managers’ Index fell to 52.2 last month from 53.4, below a May 22 preliminary reading of 52.5, London-based Markit Economics said today. The index has held above the 50 mark, which separates growth from contraction, for 11 months. Growth in new orders eased, according to the report.