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Financial News: France Private Sector Shrinks More Than Expected

France Private Sector Shrinks More Than Expected

01/22/2021 - 04:42:00 (RTTNews)

(RTTNews) - The French private sector logged a faster contraction in January partially driven by the imposition of stricter Covid-19 curfews, flash survey results from IHS Markit showed Friday.

The composite output index slid to 47.0 in January from 49.5 in the previous month. The expected score was 49.0. A reading below 50.0 indicates contraction.

Service providers registered a sharper decline compared to December, while manufacturers reported a fresh downturn following a moderate expansion last month.

The services Purchasing Managers' Index fell to 46.5 from 49.1 in December. The reading was expected to rise to 48.5.

Meanwhile, the manufacturing PMI rose unexpectedly to 51.5 from 51.1 a month ago. The score was seen easing to 50.5.

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