French manufacturing PMI falls to 2-month low of 48.5 in February

Economic IndicatorsFeb 20, 2014 03:03AM (GMT-4:00)
 
French manufacturing PMI falls to 48.5 in February

Investing.com - Manufacturing activity in France contracted at a faster rate than expected in February, fuelling concerns over the economic outlook of the euro zone’s second-largest economy, preliminary data showed on Thursday.

In a report, market research group Markit said that its preliminary French manufacturing purchasing managers’ index inched down to a seasonally adjusted 48.5 this month from a reading of 49.3 in January. Analysts had expected the index to rise to 49.6 this month.

Meanwhile, the preliminary services purchasing managers’ index fell to a seasonally adjusted 46.9 in February from 48.9 in January and below expectations for an increase to 49.4.

A reading above 50.0 on the index indicates industry expansion, below indicates contraction.

Commenting on the report, Jack Kennedy, Senior Economist at Markit said, “French private sector firms reported a slightly sharper decline in output during February, largely reflecting weakness on the services side.”

Following the release of the data, the euro added to losses against the U.S. dollar, with EUR/USD shedding 0.13% to trade at 1.3715, compared to 1.3731 ahead of the data.

Meanwhile, European stock markets were lower after the open. The EURO STOXX 50 fell 1.2%, France’s CAC 40 declined 1.1%, London’s FTSE 100 slumped 0.85%, while Germany's DAX dropped 1.5%.

French manufacturing PMI falls to 2-month low of 48.5 in February
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Add Chart to Comment
EUR/USD
 
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
 
 
 
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.