France PMI October 2018


France: Private-sector activity accelerates in October

November 6, 2018

In October, the seasonally-adjusted IHS Markit Composite Purchasing Managers’ Index (PMI) edged up to 54.1 from 54.0 a month earlier, pointing to a roughly stable pace of growth in services- and manufacturing-sector activity. October’s reading landed above the 50.0-point threshold distinguishing expansion from contraction in business activity.

The print reflected new-order gains and, in turn, faster job growth in the services sector. Work backlogs, however, continued to accumulate. Output prices rose in line with input costs, especially fuel costs, although overall inflation slowed from a month earlier. Meanwhile, firms remained broadly optimistic.

FocusEconomics Consensus Forecast panelists see fixed investment growing 3.0% in 2019, which is unchanged from last month’s estimate. For 2020, the panel sees fixed investment expanding 2.5%.


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France PMI Chart

France PMI October 2018

Note: Markit Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: Markit.

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