Francia Pmi Compuesto

The HCOB France Composite PMI fell to 47.7 in March 2024 from the nine-month high of 48.1 in February, defying market expectations of 48.6, flash results showed. The reading indicated 10th consecutive period of contaction in the private sector, albeit at a modest pace. Both the services sector (47.8 vs 48.4) and manufacturing activity (45.8 vs 47.1) deepened the downturn amid a quicker deterioration in demand for French goods and services. New orders fell at a slightly faster pace. Consequently, employment decreased for the fourth time in the last five months. The completion of backlogs enabled companies to prop up business activity levels and partially offset the drag from lower sales. For the first time since last November, both manufacturing and services firms registered higher input prices on the month, but output charges growth was the weakest in just over three years. Lastly, the level of positive sentiment advanced to its highest since January 2023.