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Bloomberg
German manufacturing remained in a slump at the start of the second quarter, casting a cloud over the euro-area economy as well as the European Central Bank’s hopes for a quick recovery.
Factory output in Europe’s largest economy contracted for a fourth month running in April, according to a survey. Manufacturing in the euro area also shrank, while a broader gauge of economic activity in the region declined. Fresh signs of malaise contradict recent cautious optimism from ECB policy makers that the 19-nation economy will soon turn the corner.
Governing Council member Ewald Nowotny said the economy should at least stabilise in the
second half of the year.