PARIS, Nov 2 (Reuters) – French manufacturing activity in October contracted more sharply than initially anticipated in October, final results from S&P Global’s monthly survey of purchasing managers showed on Wednesday. . The sector PMI index fell to 47.2 from 47.7 in September. A first estimate had given it at 47.4 on October 24.
It thus fell to its lowest level since May 2020, when activity suffered from the containment measures taken to curb the COVID-19 epidemic.
Industrial companies also recorded a marked drop in their order books in October, says S&P Global.
“The volume of new purchases fell sharply in October as companies adjusted to an unfavorable economic outlook. “Soaring inflation, we are still seeing historically high price pressures,” said Joe Hayes, the group’s senior economist. (Report Sudip Kar-Gupta, French version Marc Angrand, edited by Kate Entringer)