The situation is worsening in the French manufacturing sector

(Boursier.com) — The contraction of the French manufacturing sector accelerated at the start of the fourth quarter, as the overall volume of new orders also recorded one of its sharpest declines since the start of data collection in 1998. The S&P Global PMI Buyers Index – a composite index based on five individual indices (new orders, production, employment, supplier delivery times and purchase inventories) and designed to measure the overall performance of the industry manufacturing – thus fell from 47.7 in September to 47.2 (47.4 in the first estimate), thus posting its lowest level for almost two and a half years.

Joe Hayes, Senior Economist at S&P Global Market Intelligence, comments on the latest survey results: “The contraction of the French manufacturing sector was confirmed in October. Production and the volume of new orders recorded declines of one unprecedented pace apart from periods of intense economic turbulence, such as the Covid19 pandemic, the sovereign debt crisis in the euro zone and the global financial crisis of 2008/2009. greater reluctance on the part of companies, which in particular reduced their purchase inventories for the first time since last March, in order to preserve their cash. october”.