France: Private-sector activity gathers momentum in October
November 6, 2019
The seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) rose to 52.6 in October, rebounding from September’s 50.8. As a result, the index moved further above the 50-threshold that separates expansion from contraction in business conditions.
October’s improvement largely reflected a return to growth in manufacturing production and faster output by service providers. New orders, however, expanded only for services, with manufacturers posting a marginal decline for the second month running. The rate of job creation edged up in October, boosted by quicker employment rate in manufacturing, while overall business confidence remained unchanged from September’s, as a rise in optimism at service providers was offset by reduced sentiment amid manufacturers.
Author: Nicolás J. Aguilar, Economist