October’s flash France PMI data indicated private sector output rose at a slightly softer rate, led lower by weaker growth in the service sector and despite manufacturers raising production to the greatest degree for over two-and-a-half years.
The Markit Flash France Composite Output Index, based on around 85% of normal monthly survey replies, registered 52.2, compared to September’s 15-month peak of 52.7.
There was some divergence between the respective trends in output of the two main sectors covered by the PMI survey.
Commenting on the Flash PMI data, Paul Smith, Senior Economist at IHS Markit said: “Although growth slipped slightly in October, the latest data revealed a number of positives for the French economy, especially on the manufacturing side with rising exports supporting a marked uplift in output. With signs of intensifying capacity pressures and service providers indicating expectations for near-term growth, the outlook for the rest of 2016 looks reasonably positive.”
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