France PMI March 2019


France: Private-sector activity deteriorates in March

April 3, 2019

In March, the seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) dipped back below the 50.0-point threshold, landing at 48.9 points from 50.4 points a month earlier and signaling a deterioration in private-sector activity.

March’s reading reflected a drop in output across both the manufacturing and services sectors. New business creation decreased for a fourth consecutive month in March. Overall sales, meanwhile, slid owing to the sharpest decline in exports in almost three years. In addition, falling new orders allowed firms to reduce backlogs of work at the fastest rate in nearly six years. Lastly, firms’ optimism remained broadly unchanged from February.

FocusEconomics Consensus Forecast panelists see fixed investment growing 2.4% in 2019, which is down 0.1 percentage points from last month’s estimate. For 2020, the panel sees fixed investment growth at 2.1%.

Author:, Economist

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France PMI Chart

France PMI March 2019

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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