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Investing.com -- The manufacturing sector in the euro zone showed signs of recovery in May, with production increasing for the third month in a row and demand nearly stabilizing, according to a survey released on Monday.
The HCOB Eurozone Manufacturing Purchasing Managers’ Index, a measure of the health of the manufacturing sector, rose to 49.4 in May, up from 49.0 in April.
This represents a 33-month high for the index.
Despite this improvement, the index remains below the 50.0 mark, which separates growth from contraction.
The increase in the index was consistent with preliminary estimates.
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