France’s private sector maintained strong growth momentum in December, driven by solid expansion in manufacturing activity, flash survey data from IHS Markit showed Thursday.
The composite output index dropped to a 2-month low of 60.0 in December. Economists had expected the index fall to 59.6.
However, any reading above 50 indicates growth in the sector.
The expansion was broad-based across both the manufacturing and services sectors.
The services Purchasing Managers’ Index fell to 59.4 in December from 60.4 in the previous month. The index was forecast to rise to 60.0.
At the same time, the factory PMI climbed to 59.3 in December from 57.7 in November. In contrast, it was expected to drop to 57.2.
Furthermore, the rate of growth in manufacturing hit a near 17-and-a-half year high.
Source: RTT News