France PMI Manufacturing dropped to 50.3 in September, down from 51.1 and missed expectation of 51.2. PMI Manufacturing Output dropped to 49.7, down from 50.7. PMI Services dropped to 51.6, down form 53.4 and missed expectation of 51.2. PMI Composite dropped to 51.3, down from 52.9, a 4-month low.
Commenting on the Flash PMI data, Eliot Kerr, Economist at IHS Markit said:
“The disparity between France’s manufacturing and service sectors persisted in September, as service providers continued to record activity expansion, while there was a renewed contraction in manufacturing output. As has been the trend in recent months, service sector resilience is supporting growth in the wider economy.
“However, with services firms registering their slowest rise in activity since May, fears of negative spill over effects from the manufacturing sector are coming to fruition. Any intensification of such effects would likely dampen economic growth going forward.”
