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French manufacturing activity highest in 2-1/2 yrs in Oct: PMI

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French manufacturing activity grew in October to its highest level since March 2014 as improving demand fuelled new orders, a survey showed on Wednesday.

[PARIS] French manufacturing activity grew in October to its highest level since March 2014 as improving demand fuelled new orders, a survey showed on Wednesday.

Data compiler Markit said its final Purchasing Managers'Index rose to 51.8 in October from 49.7 in September.

That was better than a preliminary reading of 51.3 and brought the index above the 50-point line that divides an expansion in activity from a contraction for the first time in eight months.

"The latest survey data signalled an improvement in the French manufacturing sector, underlined by a solid expansion in production," said Markit economist Alex Gill. "New orders also increased for the first time this year, albeit at a more subdued pace."

sentifi.com

Market voices on:

While the level of employment broadly stabilised after seven months during which manufacturers shed jobs, the data indicated that firms remained cautious with regard to future growth.

Goods-producing companies operating in France recorded an expansion in new work for the first time in 10 months during October.

REUTERS

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