PARIS (Agefi-Dow Jones)–Manufacturing activity in France contracted more than initially estimated in September, due to weaker demand linked to high prices and weakness in certain sectors, like the car.
According to final data released Monday by S&P Global, the manufacturing PMI index stood at 47.7 in September, after 50.6 in August. The index is lower than the preliminary estimate published on September 23, which stood at 47.8. A figure above 50 indicates an expansion in activity compared to the previous month, while a figure below 50 indicates a decline.
“The survey signals an intensification of inflationary pressures in September, as companies […] indicated a sharp increase in their costs, itself resulting from soaring energy prices,” S&P Global said in a statement.
“With Europe at the heart of the global manufacturing contraction, the latest French PMI data does not bode well for the months to come. crisis, while new orders also fell sharply, with high prices deterring customers from ordering,” said Joe Hayes, economist at S&P Global Market Intelligence, quoted in the data provider’s statement.
-Aurelie Henri, Agefi-Dow Jones; [email protected] ed: VLV
Website: https://www.markiteconomics.com/Public/Release/PressReleases
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October 03, 2022 04:03 ET (08:03 GMT)