PARIS (Reuters) – The French manufacturing sector weakened further in April, but the contraction was less marked than initially estimated, shows the final HCOB PMI indicator for the sector compiled by S&P Global, which confirms a drop in the production and new orders.
The indicator’s final figure for April fell to 45.3, its lowest level in three months. It stood at 46.2 in March and 44.9 in the first estimate.
The 50 mark separates growth and contraction in activity.
“French manufacturing production remained moderate in April. The manufacturing sector continues to buck the trend of recovery in the economy in general, but this should only be temporary,” comments Norman Liebke, economist at Hamburg Commercial Bank.
“The production index declined, reflecting a faster deterioration in demand. Nevertheless, we expect a recovery in the manufacturing sector in the third quarter of this year,” he added.
(Written Dominique Vidalon; French version Claude Chendjou, edited by Kate Entringer)
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