Tuesday, 02 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
French Business Activity Firmer Than Expected in October: PMI
Thursday, 24 October 2019 14:41 WIB | ECONOMY |PMI FranceZona Euro,PMI PerancisFrance

French business activity picked up more than expected in October, boosted mainly by a firmer service sector but also by resilient manufacturing, a monthly survey showed on Thursday.

Data compiler IHS Markit said its preliminary composite purchasing managers index rose to 52.6 points from 50.8 last month, topping economists' average estimate for 51.0.

The unexpectedly strong improvement brought the index further away from the key 50-point threshold, demarcating an expansion from a contraction in business.

The improvement was driven by the dominant service sector where the index rose to 52.9 from 51.1, easily beating expectations for 51.6.

Meanwhile, the manufacturing sector, which is more exposed to the fortunes of international trade, improved unexpectedly, rising to 50.5 from 50.1 and defying economists' expectations for a retreat to 50.3.

The service sector saw a pick up in new business, in a sign of firm demand in the domestic French economy, which has so far held up well despite the global slowdown in the face of international trade tensions.

"The data are consistent with the continuation of solid gains in both official economic output and employment heading into the end of the year," IHS Markit economist Eliot Kerr said.

The euro zone's second-biggest economy has managed to maintain a largely steady growth rate so far this year thanks to an improving labor market and government measures like tax breaks to boost households' income after a series of violent protests.

However, the upbeat PMI data contrasted with a separate survey from the INSEE official statistics agency, which found on Wednesday that industry morale fell to its lowest level this month since March 2015.

Source : Reuters

RELATED NEWS
ISM Manufacturing PMI improves to 43.1 in May vs. 43.6 expected...
Monday, 1 June 2020 21:32 WIB

The economic activity in the US' manufacturing sector contracted at a softer pace in May than it did in April with the ISM's Manufacturing Purchasing Managers' Index (PMI) improving to 43.1 from 41.5....

U.S. GDP Contracted 5% in First Quarter Instead of 4.8%...
Thursday, 28 May 2020 19:53 WIB

The U.S. economy contracted at an annual 5% pace in the first quarter instead of 4.8%, revised government data show. A downward revision to inventory investment mostly accounted for the downward revis...

Australia Second-Quarter Employment Fall May Now Be 15% Vs Earlier 20% Estimate...
Thursday, 28 May 2020 08:20 WIB

Australian employment in the June quarter may have fallen by only 15% from a year earlier, less than a previous 20% estimate, as there are signs of job increases in the industries most affected by the...

U.K. Retail Sales Fall by a Record 18% in April, Clothing Sales Slump 50%...
Friday, 22 May 2020 13:44 WIB

A nationwide lockdown due to the coronavirus outbreak triggered a record fall in U.K. retail sales in April, the Office for National Statistics reported Friday. The volume of sales fell 18.1% in Apri...

IHS Markit : Latest U.S. PMI Data Indicate Rate Of Collapse In U.S. Economy Peaked In April...
Thursday, 21 May 2020 21:27 WIB

U.S. private sector firms reported a slightly slower rate of contraction in activity in May, according to latest PMI data from IHS Markit. The firm said its flash manufacturing purchasing index rose ...

LATEST NEWS
Hong Kong Shares Extend Rally

Hong Kong shares enjoyed more healthy gains Tuesday, building on the previous day's more than three percent surge, as the easing of lockdowns trumped worries about China-US tensions. The Hang Seng Index climbed 1.11 percent, or 263.42 points, to...

Pound Climbs Above $1.25 to 1-Month High, Brexit Hopes Support

Sterling climbed above $1.25 to its highest in a month against the dollar on Tuesday, as signs Britain might be willing to compromise on sticking points in a fresh round of Brexit negotiations with the European Union provided support. Britain is...

European Markets Open Higher Against Backdrop of U.S. Unrest

European stocks opened higher Tuesday against a backdrop of unrest and violence in the U.S. as protests continue over the killing of George Floyd, an unarmed black man, by police last week. The pan-European Stoxx 600 climbed 1% at the start of...

POPULAR NEWS
Gold edges lower as investors play down U.S.-China tensions
Monday, 1 June 2020 19:54 WIB

Gold futures traded slightly lower Monday, losing ground as equities drifted into positive territory and investors appeared to play down U.S.-China...

Gold Climbs As U.S. Riots Spark Safe-Haven Rush
Monday, 1 June 2020 16:00 WIB

Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained China-U.S. relations and boosted demand for...

Gold Rises as U.S. Riots, Hong Kong Rensions Lift Safe-Haven Appeal
Monday, 1 June 2020 09:15 WIB

Gold prices climbed on Monday as reports of riots in the United States rattled investors already reeling from the deepening China-U.S. rift, fanning...

Hong Kong Shares Open With Big Gains
Monday, 1 June 2020 08:58 WIB

Hong Kong stocks rallied at the start of trade Monday after Donald Trump stopped short of imposing sanctions on China over its plans for a security...