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
“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.”