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Financial News: France Private Sector Contracts At Slower Pace In

France Private Sector Contracts At Slower Pace In February

02/19/2021 - 05:39:00 (RTTNews)

(RTTNews) - France's private sector shrank at a faster pace in February as restrictions designed to stem the spread of the Covid-19 continued to hinder economic activity, survey results from IHS Markit showed Friday.

The composite output index fell to a three-month low of 45.2 in February from 47.7 in January. The expected reading was 47.5.

Service providers posted another decline in activity, while manufacturers saw a moderate expansion.

The services Purchasing Managers' Index dropped sharply to 43.6 from 47.3 in January. The score was forecast to fall marginally to 47.0.

The manufacturing PMI came in at 55.0 in February, up from 51.6 in January. The expected score was 51.4.

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