France: Private-sector activity expands at a higher clip in October
The seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) climbed to 52.6 in October from 50.8 in September. As a result, the index moved further above the 50-point threshold that separates expansion from contraction in business conditions.
October’s improvement was driven by a slight recovery in manufacturer’s output following four consecutive months of deterioration, while service providers recorded a faster expansion of activities than in September. Moreover, export orders rebounded for both sectors, with firms’ increasing their staff levels to deal with the increase in business activity. Businesses maintained their optimism towards the one-year outlook, although their degree of positivity was the lowest in four months.