France Manufacturing PMI at an 8-month high

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Friday, Jan 23 2015

Flash France Manufacturing PMI climbs to 49.5 from 47.5 in December, what is an 8-month high, and above expected increase to 48.1. January data pointed to a further rise in new business at French private sector companies, which was the second in successive months. Although quickening to a ten-month high, the rate of expansion remained marginal.

Flash France Services Activity Index fell to 49.5 missing forecast on rise to 50.9. Whereas service providers signalled another modest increase in new work, manufacturers reported a further (albeit slower) decline. New export orders received by manufacturers contracted at the sharpest rate in 19 months, and at a faster pace than total new orders. A number of manufacturers commented that client demand remained sluggish at the start of the year.

Data did not have any major impact on euro, which is currently being traded above 1.1340 level. Later today, German and Eurozone Manufacturing and Services PMI figures will be released.

More in this category: « China's Manufacturing PMI rose to 49.8 German Manufacturing PMI dropped in January »

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