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French Manufacturing PMI unexpectedly fell in February

Friday, Feb 20 2015

French Manufacturing PMI dropped to 47.7 in February from 49.2 in preceding month. Analysts were anticipating incline to 49.7. The rate of growth was solid and the fastest since August 2011. Manufacturers, however, signalled a further drop in output, with the pace of decline quickening since January.

On the other hand, Services PMI data beat market expectations on an increase to 49.9 and jumped to 53.4, highest level in 42 months.New business in the French private sector rose for the third month running in February. The rate of expansion in new work was the sharpest in three-and-a-half years, albeit moderate overall.

After the data was released, euro was pushed lower and is currently being traded few points above 1.1340 level. Later today, German and Eurozone Manufacturing and Services PMI figures will be released.

More in this category: « Aussie slightly higher in a steadier morning part of the session German Manufacturing PMI unchanged, Services PMI at a 5-month high »

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