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- France's preliminary manufacturing PMI declines in April, while services PMI increases
France's preliminary manufacturing PMI declines in April, while services PMI increases
Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for France on Friday. France's preliminary manufacturing PMI dropped to 48.3 in April from 49.6 in March. Analysts had expected the index to rise to 49.8.
The manufacturing index was driven by declines in output, new orders, employment and input prices.
France's preliminary services PMI climbed to 50.8 in April from 49.9 in March. Analysts had expected the index to increase to 50.2.
The services index was driven by rises in output, new orders, employment and input prices.
"The French private sector economy eked out marginal growth at the start of the second quarter after broadly stagnating on average during the opening three months of the year. Expansion was centred on the dominant service sector, as manufacturing was weighed down by a sharp drop in incoming new orders," the Senior Economist at Markit Jack Kennedy said.
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