French factory activity expands at steady rate in October – PMI

French manufacturing activity continued to expand at a solid rate in October, a survey showed on Thursday.

Data compiler IHS Markit said its final manufacturing Purchasing Managers’ Index (PMI) stood at 56.1 in October, matching the previous month’s reading although slightly below an initial 56.7 flash reading.

“Growth momentum in the French manufacturing sector was sustained at the start of the fourth quarter, with the PMI unchanged from the previous month’s six-and-a-half year high,” said IHS Markit economist Alex Gill.

“Perhaps a slight cause for concern was a moderation in the rate of export growth to a seven-month low… However, given robust domestic and global demand, the sector’s strong overall growth rate looks likely to be maintained as we close out the calendar year.”
Source: Reuters (Reporting by Ingrid Melander; Editing by Hugh Lawson)

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