THE WHAT? France’s manufacturing sector contracted again in November, with the latest PMI confirming continued declines in output and demand.
THE DETAILS The HCOB France manufacturing PMI slipped to 47.8 from 48.8 in October, remaining below the 50-point threshold for growth. S&P Global reported that demand for French goods fell further, extending a three-and-a-half-year stretch of declining factory orders. Manufacturers cut production at a faster rate than the previous month, and sector employment dropped for the first time since April. Economists noted that intense pricing competition is limiting output prices despite a rebound in exports, adding pressure on manufacturers’ margins.
THE WHY? The sustained downturn underscores continued weakness in French industrial activity, with falling orders, reduced output and pricing pressure signalling a challenging environment for manufacturers.
Source: Reuters
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