(RTTNews) - Markit Economics said on Tuesday that the Markit / CDAF France manufacturing purchasing managers' index stood at a seasonally adjusted 55.8 in May, down from 56.6 in April. A reading above 50 indicates expansion, while one below suggests contraction. This marks a three month low in the headline PMI.
Manufacturing output rose again in May driven by solid volumes of incoming business. New orders increased for the eleventh successive month, with demand from both domestic and foreign sources improving since April. Capacity constraints were again in evidence, with backlogs of work rising for the tenth straight month.
Despite robust activity levels, French manufacturers continued to reduce payroll numbers in May, albeit at a weak pace and in most cases due to the non-replacement of leavers. Input price inflation picked up sharply in May due to global shortages of raw materials, while output charges were raised moderately.
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