France: Private-sector activity accelerates marginally in November
The seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) inched up to a three-month high of 52.7 in November, from 52.6 in October. As a result, the index edged up further above the 50-threshold that separates expansion from contraction in business conditions.
November’s slight upturn came on the back of an improvement in the manufacturing sector, where output rose at the fastest pace since June, while the rate of growth at service providers remained stable from October. Similarly, new business growth accelerated in the manufacturing sector, amid robust international demand, and was broadly sustained in the services sector. Meanwhile, employment level increased among both manufacturers and service providers in November, as did the backlogs of work. Lastly, both the rate of inflation and output price growth eased from October, while business sentiment shot up to seven-month high, reflecting strong underlying demand.