French economy contracted in November – flash PMI
PARIS, Nov 23 (Reuters) – France’s private sector economy contracted in November for the first time since February 2021, according to a monthly survey, as lower new orders weighed on the euro zone’s second-biggest economy.
S&P Global’s flash purchasing managers index (PMI) for France’s services sector fell to 49.4 points from 51.7 in October. Any reading above 50 points shows growth while figures below 50 show a contraction.
The figure was also below a Reuters poll which had forecast 50.6 points.
The flash November PMI figure for France’s manufacturing sector rose to 49.1 points from 47.2 in October. It beat a Reuters poll forecast for 47.0 points but was nevertheless still below the 50 points mark and therefore remaining a contraction.
The flash November composite PMI figure – which comprises both the manufacturing and services sectors – fell to 48.8 points from 50.2 in October, and was also below a Reuters poll forecast of 49.5…
