French Manufacturing PMI Beats Expectations

(RTTNews) - French manufacturing activity rose at a faster than expected pace in August, survey data showed on Wednesday, with incoming new orders rising briskly.

Markit Economics said the manufacturing purchasing managers' index came in at a seasonally adjusted 55.1, up from 53.9 in July and also above the earlier estimate of 54.7.

A reading above 50 indicates expansion, while one below suggests contraction. Economists had expected the preliminary reading to be confirmed.
French manufacturing output rose at a faster pace in August, extending the current sequence of growth to 14 months. New orders climbed at the fastest pace in four months, with growth supported by improved domestic demand.
Despite the rise in activity, manufacturing employment in France fell again during August. The latest reduction in employment extended the current period of decline to 28 months, but was the slowest since May.