France’s final manufacturing PMI decreases to 48.0 in April
Markit Economics released its final manufacturing purchasing managers' index (PMI) for France on Monday. France's final manufacturing purchasing managers' index (PMI) decreased to 48.0 in April from 49.6 in March, down the preliminary reading of 48.3.
The index was driven by drops in new business, output and output prices. Output prices slid a fastest pace since July 2009.
"The French manufacturing sector slipped further into contraction during April, precipitated by a steeper reduction in new order intakes. This was despite output prices being cut at the steepest rate since mid-2009, highlighting the sector's struggles in the face of persistently weak demand," Markit Senior Economist Jack Kennedy said.
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