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French PMI fell to a four-month low

Friday, Aug 21 2015

Flash France Manufacturing PMI dropped to 48.6 (49.6 in July), 4-month low, while Flash France Services Activity Index fell to 51.8 (52.0 in July), also 4-month low. Analysts were anticipating no change. Expansion remained centred on the service sector, where activity increased for a seventh consecutive month in August. That said, the rate of expansion eased to the weakest since April.

Output growth in France’s private sector economy cooled to a four-month low in August, suggesting that third-quarter GDP may disappoint again following stagnation in Q2. An improvement in service providers’ business expectations to a near three-and-a-half year high provided some rare positive news, but manufacturing continued to struggle amid a sharper drop in new orders.

 

After the data euro fell and is currently being traded few points above 1.1250 handle. Pair is likely to find support around 01.12 area and resistance above 1.13 level. Later today, German and Eurozone Manufacturing PMI figures are scheduled for a release.

More in this category: « China's Manufacturing PMI at a lowest level since March 2009 German PMI growth supported by output and new orders increase »

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