France’s manufacturing PMI posted growth for the first time since June

France’s manufacturing PMI posted growth for the first time since June
France’s manufacturing PMI posted growth for the first time since June
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Data released by Markit Statistics Office on Tuesday showed that the manufacturing sector grew in France during the month of January, for the first time since last June, that is, 6 months ago. At the level of 49.6 points, it is also better than the previous reading of 49.2 points.

It measures the level of activity of purchasing managers in the manufacturing sector. This indicator is based primarily on data from the original survey compiled by 1,000 companies within the French manufacturing and services sectors. It is also based on about 85% of total monthly purchasing managers’ survey responses. A reading above 50 indicates growth, while a reading below 50 reflects contraction.

On the other hand, the initial reading of the PMI in the services sector in France during the same time period recorded 49.2 points, which is worse than expectations that indicated a contraction to 49.7 points only, and it is worse than the previous reading of 49.5 points.

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It measures the activity level of purchasing managers based on the survey conducted on them in the service sector, and the French PMI service purchasing managers index is based on data collected from about 500 companies in the French service sector. The index tracks a number of variables such as: sales, employment, inventories, and prices in France. It is worth noting that the initial estimates are based on about 85% of the total responses to the monthly purchasing managers’ survey. The index reading reflects the contraction of the service sector in France if it came less than 50%. , and grow if it is higher.

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