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Financial News: French Private Sector Growth At 77-Month High

French Private Sector Growth At 77-Month High

10/24/2017 - 04:47:00 (RTTNews)

(RTTNews) - France's private sector activity expanded at the fastest pace in nearly six-and-a-half years in October, survey figures from IHS Markit showed Tuesday.

The composite output index climbed to 57.5 in October from 57.1 in September. Any reading above 50 indicates expansion in the sector.

The service sector activity rose to the greatest extent since March 2017. The services Purchasing Managers' Index increased to 57.4 in October from 57.0 in the preceding month.

Similarly, the manufacturing PMI climbed to a 78-month high of 56.7 in October from 56.1 in September.

"Further encouragement was provided by the broad-based nature of the expansion, with output growth accelerating in both the manufacturing and service sectors, each underpinned by solid client demand," Alex Gill, Economist at IHS Markit said.

French private sector companies maintained an optimistic outlook towards their prospects for activity growth over the coming 12 month period.

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