France PMI Manufacturing dropped slightly to 51.0 in October, down from 51.2, matched expectations PMI Services dropped to 46.5, down from 47.5, below expectation of 47.0. PMI Composite dropped to 47.3, down form 48.5, hitting a 5-month low.
Eliot Kerr, Economist at IHS Markit said: “The results suggest that the recent rise in COVID-19 cases and subsequent tightening of restrictions has had a notable negative impact on business conditions… With the European winter fast approaching, the prospect of a sharp drop in new positive cases and a full reopening of the economy seems unlikely. The festive period, usually so important for wide range of business, is set to be a difficult one.”
