[ad_1]
© Reuters. PHOTO PHOTO: People sitting at tables in a covered passageway having lunch outside the bistro, Passage des Panoramas, Paris, France, November 17, 2015. REUTERS / Charles Platiau / File Photo
2/2
PARIS (Reuters) – French business activity expanded faster than expected in November, with initial estimates from a monthly survey showing that the eurozone’s second-largest services sector grew the fastest in almost four years.
IHS data collector Markit said on Tuesday that its flash purchasing managers ’index (PMI) for the French services sector stood at 58.2 points, up from 56.6 in October.
The reading in the services sector exceeded the forecast of 56.0 points, and moved the index above the 50-point threshold indicating the expansion of activity.
The PMI flash for the French manufacturing sector rose to 54.6 points in November from 53.6 in October, also exceeding the forecast of 53.0 points.
The November composite PMI, which includes the services and manufacturing sectors, rose to 56.3 points from 54.7 in October, beating the forecast of 53.6 points.
The French services industry benefited from higher workloads from new and existing customer contracts, IHS Markit added, despite the persistence of supply chain disruptions.
“After a clear period of slowdown in growth in the months to October, the November PMI flash data showed a new acceleration in French economic expansion,” said Joe Hayes, senior economist at IHS Markit.
“However, the drivers of data improvement are services. Manufacturers are still struggling with component shortages, long lead times and low demand conditions,” Hayes added.
Fusion Media or anyone involved with Fusion Media will not be liable for any loss or damage as a result of relying on the information contained in the data, estimates, charts and buy / sell signals contained on this website. Please be fully informed about the risks and costs associated with trading in the financial markets, which is one of the most risky forms of investment possible.
[ad_2]
Source link
