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- France’s final manufacturing PMI drops to 48.3 in August
France’s final manufacturing PMI drops to 48.3 in August
Markit Economics released its final manufacturing purchasing managers' index (PMI) for France on Monday. France's final manufacturing purchasing managers' index (PMI) dropped to 48.3 in August from 49.6 in July, down from the preliminary reading of 48.6.
The decline was driven by decreases in output, new orders, employment and prices charged.
"The French manufacturing sector slipped further into contraction during August, led by a sharper decline in new orders. The fragile demand environment shows no sign of abating, with another round of output price reductions unable to prevent the latest drop in new work. Correspondingly, manufacturers cut stock levels further and reduced headcounts, as the prospects of a revival continue to look weak," Markit Senior Economist Jack Kennedy said.
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