Francia - PMI Composite

The IHS Markit France Composite PMI fell to 52 in December 2019 from 52.1 in the previous month and matching market forecasts, a preliminary estimate showed. The latest reading pointed to a softer expansion in the private sector, as manufacturing output growth slowed (PMI at 50.3 vs 51.7 in November) while services activities increased further (PMI at 52.4 vs 52.2 in November). New export orders advanced at a weakest pace in the current sequence and the job creation rate eased from a 13-month high. Meantime, outstanding business continued to grow at a faster pace and at the strongest since October 2018. On the price front, input prices continued to rise, extending the current run of inflation to nearly four years, and output cost inflation was little-changed. In December, several unions including transportation went on strike to protest against a reform of France’s pension system, which will see people need to work longer to get a full pension.

The IHS Markit France Composite PMI was at 52.1 in November 2019, down from a preliminary estimate and market forecasts of 52.7 and below October’s reading of 52.6. The reading pointed to a weaker expansion in the private sector, as services activities growth slowed (PMI at 52.1 vs 52.6 in October) while factory output accelerated to a five-month high (PMI at 51.7 vs 50.7 in October). New orders growth eased, amid a slower demand in the domestic market; while export sales increased and the rate of job creation accelerated to the strongest for just over a year. Finally, sentiment improved to a seven-month high, driven by strong confidence across both manufacturing and services firms.

The IHS Markit France Composite PMI rose to 52.7 in November 2019 from 52.6 in October and slightly below market expectations of 52.8, a preliminary estimate showed. The reading pointed to the fastest expansion since August, as factory growth quickened to a 5-month high (PMI at 51.6 from 50.7 in September) and services continued to expand firmly (PMI at 52.9, the same as in October). New orders grew the most in 3 months and export orders advanced for the second month running and at the fastest pace since June. Also, the rate of job creation was the quickest since October 2018 and solid overall. On the price front, both input inflation and output charge inflation softened slightly. Lastly, firms remained optimistic towards the one year business outlook in November, with sentiment at the strongest level for seven months.

The IHS Markit France Composite PMI rose to 52.6 in October of 2019 from 50.8 in September, matching preliminary figures. Both manufacturing (50.7 from 50.1, the highest since June) and services (52.9 from 51.1) activity grew faster. Also, output and new order growth accelerated. At the sector level, the faster expansion was driven by services, where the rate of increase quickened and was solid overall. Also, new export business rose slightly and employment went up. The rate of job creation was marginally quicker than September, driven by the fastest workforce expansion at manufacturers for four months. Finally, business sentiment remained positive but was unchanged in October. A rise in optimism at service providers offset reduced confidence at manufacturers.

The IHS Markit France Composite PMI rose to 52.6 in October from 50.8 in September and well above market expectations of 51, a preliminary estimate showed. The solid rise in demand was evident as volumes of new business continued to increase. New export business rebounded, supported by growth in exports at both manufacturers and service providers. Meantime, employment growth quicker than in September, driven by faster rises in both the manufacturing and service sectors. At the same time, the rate of inflation accelerated from September, driven by a sharp rise in service sector operating expenses, while manufacturers recorded the quickest decrease in over three years. Finally, France’s companies maintained their optimism towards the business outlook.

The IHS Markit France Composite PMI dropped to 50.8 in September 2019 from 52.9 in the previous month and below a preliminary estimate and market forecasts of 51.3, final data showed. The reading pointed to the weakest expansion in the private sector in five months, as factory output growth slowed (PMI at 50.1 vs 51.1 in August) and services activities fell to a 4-month low (PMI at 51.1 vs 53.4 in August). New orders rose at the softest pace since May and new export business dropped into contraction territory. Also, the rate of job creation eased to a five-month low amid a broad-based slowdown at the sector level. Lastly, sentiment improved driven by stronger confidence in services.