France PMI January 2019


France: Private-sector activity slips again in January

February 5, 2019

In January, the seasonally-adjusted IHS Markit Composite Purchasing Managers’ Index (PMI) fell to 48.2 from 48.7 a month earlier, landing below the 50.0-point threshold and signaling a contraction in private-sector activity.

January’s reading reflected weaker services-sector activity, although it was unclear whether these disruptions were brought on by the ‘gilets jaunes’ protests. Meanwhile, manufacturing-sector activity fell only marginally. Overall, new orders fell and hiring slowed. For their part, however, firms appeared more optimistic at the outset of the year.

FocusEconomics Consensus Forecast panelists see fixed investment growing 2.7% in 2019, which is unchanged from last month’s estimate. For 2020, the panel sees fixed investment growth at 2.3%.


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France PMI Chart

France PMI January 2019 0

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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