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Financial News: France Private Sector Growth Loses Momentum In September

France Private Sector Growth Loses Momentum In September

09/23/2021 - 03:38:00 (RTTNews)

(RTTNews) - France's private sector logged the slowest pace of growth since April as the rates of expansion lost steam in manufacturing and services sectors in September, flash survey data from IHS Markit showed on Thursday.

The flash composite output index dropped to a five-month low of 55.1 in September from 56.9 in August. The reading was also below economists' forecast of 55.8.

"The index has been trending lower since it peaked in June, and this could easily continue as we head into the autumn and winter period across Europe," Joe Hayes, a senior economist at IHS Markit said.

The manufacturing Purchasing Managers' Index fell to an eight-month low of 55.2 from 57.5 in the prior month. The score was forecast to drop moderately to 57.0. The manufacturing output growth was curtailed by shortages of raw materials and other key components.

At the same time, the services PMI came in at 56.0, as expected, but down from 56.3 in August.

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