France PMI manufacturing rose to 51.4 in February, up from 51.2 and beat expectation of 51.0. PMI Services rose to 49.8, up from 47.8 and beat expectation of 48.5. PMI composite also improved to 49.9, up from 48.2.
Commenting on the Flash PMI data, Eliot Kerr, Economist at IHS Markit said:
“February flash data pointed to a broad-stabilisation in output at private sector firms in France, offering relatively positive news after the weak performances of December and January.
“Although the ‘gilets jaunes’ protests are still ongoing and panellists have suggested that these are still causing disruption, the economy showed resilience in the latest survey period. Encouragingly, the rate of job creation accelerated and new orders declined only marginally, arresting the downward momentum seen over the past couple of months.
“That said, the economy will continue to post below its potential as long as social unrest continues. And amid the current uncertainty in the global economy, domestic issues weighing on activity are likely to remain detrimental.”
