France PMI Manufacturing dropped to 49.1 in November, down from October’s 51.3, missed expectation of 50.1. PMI Services dropped to 38.0, down from 46.5, matched expectations. PMI Composite dropped to 39.9, down from 47.5. All are 6-month lows.
Eliot Kerr, Economist at IHS Markit said: “With the renewed tightening of restrictions in France at the end of October, a sharp decline in private sector activity during November was almost inevitable. However, it is somewhat positive to see that the latest contraction in activity was substantially slower than during the previous lockdown. These results suggest that some French businesses have been able to adapt their operations to the new conditions and are subsequently less susceptible to sharp downturns in activity when tighter restrictions are imposed.
