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Mixed French PMI figures

Tuesday, Dec 16 2014

French Manufacturing PMI declined to 47.9, missing expectations on incline to 48.7. On the other hand, Services PMI rose to 49.8, thus beating forecasts on a smaller incline to 48.6. The French private sector economy remained in contraction in the final month of 2014, as has been the case since May. However, the rate of decline in output eased to a marginal pace as the service sector moved towards stabilisation.

 

Services companies were boosted by a slight rise in new business for the first time in four months, while expectations of further gains in new work in coming  months boosted their confidence regarding the year-ahead outlook. The performance of the manufacturing sector remained a concern, however, as output fell at a sharper rate amid reports of continued weak demand and strong competitive pressures. 

 

After the figures, euro went down few points and is currently being traded slightly below 1.2450 level. Later today, German and Eurozone Manufacturing and Services PMI data will be released as well as Economic Sentiment figures.

Last modified on Tuesday, 16 December 2014
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