France PMI Manufacturing dropped from 57.5 to 55.2 in September, below expectation of 57.3, lowest in 8 months. PMI Services dropped slightly from 56.3 to 56.0, below expectation of 56.0, lowest in 5 months. PMI Composite dropped from 56.9 to 55.1, lowest in 5 months.
Joe Hayes, Senior Economist at IHS Markit said:
- “Flash PMI data for September provides clear evidence that economic growth in France is cooling…
- “The most striking finding from the September survey was the strong drop-off in manufacturing production growth, which panel members linked to the well-documented supply-side issues that are ongoing at present…
- “These issues aren’t just confined to the manufacturing sector either, with service providers also affected.
- “An accelerated deterioration in supplier delivery times has again pushed up inflation, after August data provided tentative hopes that some of these pressures were coming off the boil.
- “Overall, slowing demand growth, rising prices and considerable supply-side issues are – to say the least – far from the ideal conditions as we head into what seems to be another challenging winter period.”
