France PMI manufacturing was finalized at 53.8 in April, revised up from 53.4. Markit noted that overall growth broadly unchanged having slowed in previous three months. Rates of expansion in output and employment quicken. And, inflationary pressures remain elevated.
Comments from Alex Gill, Economist at IHS Markit:
“Having softened in the previous three months, the rate of growth in the French manufacturing sector was broadly unchanged at the start of the second quarter. Encouragingly, output and employment rose at sharper rates than in March.
“On a less positive note, the pace of expansion in new orders continued to moderate, in turn leading to the weakest degree of business confidence for seven months.
“The slowdown in client demand growth seen since the start of 2018 can be partially linked to poor weather conditions, while the recent train strikes may also have played a part. The degree to which these factors can explain the slowdown or whether the cause is something of greater concern will become more apparent in the coming months.”
