Francia - PMI manifatturiero

The IHS Markit France Manufacturing PMI fell to 50.3 in December of 2019 from 51.7 in November, well below market expectations of 51.5. The reading pointed to the slowest expansion in factory activity in three months, flash figures showed. 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. New work continued to decline; new business from abroad was little changed; and job growth was stable. On the price front, input prices continued to rise due to higher transport costs and elevated pork prices and output charges edged up. Finally, businesses remained optimistic towards the one-year outlook for output in December, supported by expectations for accelerated demand growth. The degree of positivity remained historically elevated but was weaker than November’s seven-month high.

The IHS Markit France Manufacturing PMI was revised up to 51.7 in November of 2019 from a preliminary of 51.6 and 50.7 in October. The reading pointed to the strongest expansion in factory activity in 5 months, amid faster production and renewed rise in new orders and in international sales, with demand increasing from the Czech Republic, Ivory Coast and Mauritania. Also, job creation was the strongest since July of 2018. On the price front, input prices declined, amid discounts on raw materials such as iron and wood while output charges continued to increase. Finally, manufacturers maintained their optimism towards the one-year outlook for output. Notably, the degree of positivity was the strongest since May

The IHS Markit France Manufacturing PMI increased to 51.6 in November of 2019 from 50.7 in October, beating market expectations of 50.9, flash figures showed. The reading pointed to the fastest increase in the manufacturing sector in five months, as new work rose for the first time since August albeit at a modest rate; new export orders and employment went up; and backlogs increased at the sharpest pace since February 2018. On the price front, purchasing prices fell for the third straight month and output inflation was the slowest in over three years. Finally, firms remained optimistic towards the one-year business outlook.

The IHS Markit France Manufacturing PMI rose to 50.7 in October 2019 from 50.1 in the previous month and slightly above a preliminary reading of 50.5. Output and employment increased at the quickest pace since June while new orders fell marginally despite a slight rise in export orders. Meanwhile, purchasing activity continued to decline for the second month, which contributed to the sharpest contraction in pre-production inventories since August 2016. On the price front, input prices fell the most in three-and-a-half years while average output charges were raised. Looking ahead, the degree of optimism towards the business outlook was the weakest since April 2016.

The IHS Markit France Manufacturing PMI rose to 50.5 in October 2019 from 50.1 in the previous month and beating market expectations of 50.3, a preliminary estimate showed. The latest reading pointed to a stronger expansion in factory activity, as output increased at the sharpest pace in four months and new export orders advanced marginally. Also, the job creation rate went up further. Meanwhile, new orders shrank for the second consecutive month. On the price front, input prices dropped at the fastest pace in since April 2016 mainly due to lower cost of steel and aluminium.

The IHS Markit France Manufacturing PMI decreased to 50.1 in September 2019 from 51.1 in the previous month and below earlier estimates of 50.3. Both output and new orders declined, driven by weakness in the domestic market, as exports were unchanged. Also, the rate of job creation eased slightly and stocks of inputs decreased more. On the price front, there was a renewed fall in input prices linked to lower prices for steel and raw materials. Meantime, the rate of output charge inflation decelerated slightly from August and was marginal overall.