World Economy

France Manufacturing PMI Above Estimate

France Manufacturing PMI Above EstimateFrance Manufacturing PMI Above Estimate

According to data provided by Markit Economics, the final Markit France Manufacturing PMI was 51.7 in November 2016 compared to 51.8 in October. That was more than the initial estimate of 51.5, Market Realist reported. France’s October manufacturing PMI showed a first-time expansion in manufacturing PMI after a contraction for seven consecutive months. A level above 50 indicates expansion in the economy, while anything below 50 indicates a contraction. November’s manufacturing PMI was a little weaker than October’s, but it was more than market expectations. The improvement in France’s manufacturing PMI in November 2016 was mainly due to the following: Production volume and output rose marginally; export orders and new orders rose at a higher rate; and employment growth remained unchanged. Meanwhile, the iShares MSCI France, which tracks France’s performance, fell 2.0% in November. The Vanguard FTSE Europe ETF, which tracks Europe’s economic performance, fell 2.3%.


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