Prior 51.4Manufacturing PMI 50.6 vs 48.1 expectedPrior 47.8Composite PMI 50.1 vs 50.3 expectedPrior 50.4<\/p>\n
It’s a polarising release with the French services sector slumping in December while the manufacturing sector posts a beat on activity. At the balance though, it still leads to a bit of a drag to the French economy with overall activity basically stagnating in the final month of the year. Looking at the details, employment conditions held up while price developments were little changed compared to November. HCOB notes that:<\/p>\n
\u201cFrench private sector business conditions appear largely static in December. The HCOB flash PMI remains marginally in
\ngrowth territory, yet it signals a softer expansion compared to the prior month, reflecting an economy still weighed down by
\nuncertainty among households and firms. Beneath the surface, however, sectoral adjustments have occurred: manufacturing
\nstabilised, whereas services lost momentum, leaving the aggregate picture flat and the overall French economy sluggish.\n<\/p>\n
\u201cThe flash Manufacturing PMI managed a modest climb past the 50.0-point mark as the year drew to a close. December
\nbrought encouraging signs in indices for both output and order books, with foreign demand providing a notable lift. Another
\noptimistic reading of the Future Output Index and a renewed willingness among firms to expand their workforces provides a
\npositive signal for the outlook.\n<\/p>\n
\u201cHowever, so long as no budget is passed by the government, political uncertainty will remain a noticeable headwind for
\nFrance\u2019s economy. The passage of the social security budget is at least a small victory for Prime Minister Lecornu. However,
\nsubdued consumer sentiment and intense international competitive pressures from the likes of the US and China diminish
\ngrowth prospects. The recently robust aviation industry could offer a glimmer of hope for the future by providing additional
\nimpetus to the manufacturing sector more broadly.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Prior 51.4Manufacturing PMI 50.6 vs 48.1 expectedPrior 47.8Composite PMI 50.1 vs 50.3 expectedPrior 50.4 It’s a polarising release…\n","protected":false},"author":2,"featured_media":351869,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":{"0":"post-351868","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/351868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=351868"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/351868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/351869"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=351868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=351868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=351868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}