France: the contraction eases in industry (PMI)


(CercleFinance.com) – The contraction in activity in the manufacturing sector eased slightly in December but the economic situation remains uncertain, show the final results of the S&P Global monthly survey of directors purchases.

Its composite PMI S&P Global buyers’ index thus recovered to 49.2 last month, against 48.3 in November, highlighting a slowdown in the contraction at the end of 2022.

But the index is still below 50 points, for the fourth consecutive month, signaling a sector still in contraction territory.

If he feels the industry recession ‘may not be as severe
than we feared”, Joe Hayes, the S&P Global Market economist in charge of the report, underlines that the situation remains for the time being “uncertain” and does not exclude the risk of a “sudden deterioration of the economic situation over the next few months.

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