Investing.com - French private sector output remained strong in December, boosting the economic outlook for the euro zone’s second largest economy according to data released on Thursday.
The preliminary reading of the Markit services purchasing managers’ index dipped to 59.4 this month from 60.4 in November.
Economists had forecast a reading of 59.9.
The manufacturing PMI rose to an almost 17-and-a-half year high of 59.3, compared to expectations for 57.2 and up from 57.7 a month earlier.
The composite output index, which measures the combined output of both the manufacturing and service sectors dipped to 60.0 from 60.3, but was ahead of expectations for 59.4.
A reading above 50.0 on the index indicates industry expansion, below indicates contraction.
“Although dipping fractionally from November’s six-and-a-half year high, the headline flash composite output PMI number remained among the highest recorded in the survey history during December, and completes what has been a strong year for the French private sector economy," Alex Gill, economist at survey compiler Markit said.