France: Composite PMI falls to three-month low in November
November 23, 2015
The composite Purchasing Managers’ Index (PMI), elaborated by Markit, moderated in November. The indicator fell from a revised 52.6 (previously reported: 52.3) to 51.3 in November. The print represented a three-month low. Nevertheless, it marked the 10th consecutive month in which the indicator hovered above the 50-threshold that separates expansion from contraction in business activity.
November’s result reflected deterioration in both the manufacturing and service sectors. According to the survey, growth marked a three-month low in both sectors. However, new business in November improved for the third consecutive month, accelerating at the fastest rate since June.
Markit commented, “French private sector output growth weakened slightly in November, with the Paris attacks reported to have hit activity among some service providers. [...] While the longer-term economic impact following the attacks remains uncertain, PMI data suggest that GDP is on course to post another modest expansion in Q4 following the 0.3% growth reported in the third quarter.”
Author: Eric Denis , Economist