French Manufacturing PMI rose in February

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Tuesday, Mar 24 2015

Flash France Manufacturing PMI rises to 48.2 from 47.6 in February, what is a 2-month high. However, this was below expectations on incline to 48.9. March data pointed to a rise in new business across the French private sector for the fourth month running. Moreover, the rate of growth quickened slightly to the fastest since August 2011.

Flash France Services Activity Index fell to to 52.8 from 53.4 in February, what is a 2-month low. Analysts were predicting smaller decrease to 53.1. Service providers reported a similarly solid pace of expansion to February, with panellists commenting on improving demand conditions and successful marketing strategies.

After the data, euro was pushed higher, but managed to rebound and is currently being traded few points above 1.0960 level. Pair is likely to find support around 1.09 handle and resistance above 1.1050 area. Later today, German and Eurozone PMI figures are scheduled for a release.

More in this category: « China's Manufacturing PMI at eleven-month low German Manufacturing and Services PMI up in March »

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