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(RTTNews) - French private sector expansion slowed in December with the headline composite output index falling to a two-month low of 55.3 in December from 56.4 in November, flash estimates by Markit Economics showed Thursday.
(RTTNews) - French private sector expansion slowed in December with the headline composite output index falling to a two-month low of 55.3 in December from 56.4 in November, flash estimates by Markit Economics showed Thursday.
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French Private Sector Growth Eases In December
(RTTNews) - French private sector expansion slowed in December with the headline composite output index falling to a two-month low of 55.3 in December from 56.4 in November, flash estimates by Markit Economics showed Thursday.
A PMI reading above 50 indicates expansion of the sector while a reading below 50 suggests contraction. The flash manufacturing purchasing managers' index dropped to a two month low of 56.3 from 57.9 in November.
Meanwhile, the manufacturing output index declined to 58.1 in December from 59.5 in the previous month. This was the lowest reading in two months, Markit said. The PMI for the services sector dropped to a nine month low of 54.1 from 55.
Overall growth of new business was the strongest in three months, reflecting a faster rise in orders received by French service providers. Both input and output prices rose at the strongest rates since August 2008, Markit said.
French service providers signaled positive future expectations in December, with optimism rising slightly since November. Employment growth was maintained during the month, mainly driven by solid job creation in the services sector.
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