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Financial News: France Private Sector Growth At 4-Month Low

France Private Sector Growth At 4-Month Low

01/24/2020 - 03:37:00 (RTTNews)

(RTTNews) - France's private sector grew at the slowest pace in four months in January, flash survey data from IHS Markit showed Friday.

The flash composite output index fell to 51.5 in January from 52.0 in December. The score signaled the slowest growth since last September.

The reading was forecast to remain unchanged at 52.0. Nonetheless, a score above 50 indicates expansion.

Although service providers continued to outperform manufacturers, the former saw activity growth ease to the weakest in four months, the survey showed.

The services Purchasing Managers' Index came in at 51.7, down from 52.4 a month ago and below the forecast of 52.2.

Meanwhile, the manufacturing PMI rose more-than-expected to 51.0 from 50.4 in December. The expected reading was 50.6.

Pollyanna De Lima, a principal economist at IHS Markit said, "The flash PMI data continued to show a slowdown in economic growth across France."

"While there were warnings of softer conditions in the service sector, linked to national railway strikes, manufacturing displayed mild signs of revival," the economist noted.

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