French private sector activity rose more than expected in October, boosting the economic outlook of the euro zone’s second largest economy according to data released on Tuesday.The preliminary reading of the Markit services purchasing managers’ index came in at 57.4 this month from 57.0 in September Economists had expected the index to tick down to 56.9.
The manufacturing PMI rose to 56.7, compared to expectations for 56.0 and from 56.1 a month earlier. The composite output index, which measures the combined output of both the manufacturing and service sectors rose to 57.5 from 57.1, beating expectations for 57.0. A reading above 50.0 on the index indicates industry expansion, below indicates contraction.
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