France PMI Manufacturing was finalized at 55.0 in September, down from August’s 57.5, lowest since January. Markit said that input lead times deteriorated at unprecedented rate prior to COVID-19. Output growth lost further momentum amid supply-side challenges. New order growth softened further.
Joe Hayes, Senior Economist at IHS Markit, said: “September survey data show us that the intense supply-side imbalances are now starting to seriously impede the French manufacturing sector and are even affecting the demand-side of the economy too.
“Lead times are rising at extreme rates, and port closures in Asia seen recently have added fuel to the fire…. Surveyed firms mentioned that clients are becoming hesitant and orders are being postponed or not placed at all , so we’re now seeing a negative demand-side impact.
