YIKES: France's Manufacturing Activity Plunges To A 41-Month Low

france pmi

Photo: Markit

France’s manufacturing PMI fell to 42.7 from 46.0 in August.However, this was slightly better than economists expectation for 42.6.

Here are the key points from Markit:

  • Marked deterioration in manufacturing sector operating conditions recorded
  • New export orders fall at fastest rate since May 2009
  • Employment declines for seventh consecutive month

From Markit economist Jack Kennedy:

“Latest PMI data show the French manufacturing sector entering a deepening downturn in September. A steep fall in new orders was the principal driver, with data pointing to considerable weakness both domestically and from export markets. The manufacturing sector looks highly likely to have made a negative contribution to third- quarter GDP, with PMI data signalling the weakest quarterly output performance since Q1 2009.”

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