FRANCE OCT FLASH SERVICES PMI 51.3 (FCST 51.5); SEP 52.9

FRANCE OCT FLASH MANUFACTURING PMI 47.4 (FCST 47.0); SEP 47.7

FRANCE OCT FLASH COMPOSITE PMI 50.0 (FCST 50.2); SEP 51.2

• The French composite PMI stalled at the breakeven of 50 in the October flash, dragged down by a contractive manufacturing PMI. The index had remained expansive since April 2021.
• Both services and manufacturing edged down, manufacturing to fresh 2020 pandemic low, contracting for the fifth consecutive month.
• Highlights from the press release:
  • Business activity slowed due to weak demand conditions, and a third successive decline in new order inflows. Inflation and economic uncertainty drove this.
  • This was largely on the manufacturing front a sharp drop in new orders was the fastest since May 2020
  • Business confidence weakened to an almost two-year low.
  • Prices saw little relief and input price inflation was only marginally down. High energy prices were again cited.
  • The rate of job creation remained strong and above the historical average.