Wednesday, 15 July 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
U.S. Initial Jobless Claims Fell Last Week by More Than Forecast...
Thursday, 9 July 2020 19:43 WIB

Applications for unemployment benefits in the U.S. declined last week by more than projected, easing concerns of a renewed downturn in the labor market after several large states reported a pickup in ...

U.S. Services Index Jumps to a Four-Month High on Reopenings...
Monday, 6 July 2020 21:14 WIB

A gauge of U.S. service industries jumped to a four-month high in June and showed the resumption of growth as the economy reopened more broadly from pandemic-induced lockdowns. The Institute for Supp...

UK Final Services PMI revised higher to 47.1 for June; GBP/USD holds steady above mid-1.2400s...
Friday, 3 July 2020 15:57 WIB

The headline seasonally adjusted final IHS Markit/CIPS UK Services PMI Business Activity Index posted 47.1 in June, up sharply from 29.0 in May and the highest for four months. This compared with the ...

US NFP surges by 4.8 million in June, Unemployment Rate falls to 11.1%...
Thursday, 2 July 2020 19:50 WIB

Nonfarm Payrolls (NFP) in the US increased by 4,800,000 in June, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed May's increase of 2,699,000 (revised ...

ADP Employment Change jumps to +2.36 million in June...
Wednesday, 1 July 2020 19:33 WIB

Employment in the US' private sector rose by 2,369,000 in June, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday. This reading followed May's ...

LATEST NEWS
Euro hits four-month high vs dollar on stimulus, recovery hopes

The euro rose to a four-month high against the dollar on Wednesday on hopes European Union leaders may agree on stimulus and deepening fiscal integration to shield the economy from the pandemic. The dollar was on the defensive, particularly...

Asia stocks jump as hopes for a coronavirus vaccine rise

Stocks in Asia traded higher Wednesday morning as hopes for a coronavirus vaccine rise. In Japan, the Nikkei 225 gained 1.22% in early trade while the Topix index added 1.11%. South Korea's Kospi jumped 1.31%. Over in Australia, the S&P/ASX...

Gold Holds Gain Above $1,800 as Silver Futures Advance

Gold held a two-day advance above $1,800 an ounce as investors tracked tensions between the U.S. and China, progress in developing a coronavirus vaccine, and the mixed outlook for the global economy. Silver futures neared $20 an...

POPULAR NEWS
'Record-Highs in Sight': Gold on Path North of $1,800 This Week - Analysts
Monday, 13 July 2020 15:47 WIB

Gold is rallying for the fifth week in a row and the bullish trend is targeting the 2011 record-highs in USD-terms, according to analysts. At the...

Gold Futures Post Their First Gain in 3 Sessions
Tuesday, 14 July 2020 00:51 WIB

Gold futures climbed on Monday to score their first gain in three sessions, moving back toward the nearly nine-year high they reached on...

Gold Trades Steady as Virus, Equities’ Advance Weighed
Monday, 13 July 2020 08:25 WIB

Spot gold was steady in Asian trading as investors weigh virus developments in the U.S amid expectations Asian equities will open higher on...

Gold Steadies Amid U.S.-China Tensions, WHO's Warning
Tuesday, 14 July 2020 09:31 WIB

Spot gold was steady as investors weighed fresh tensions between the U.S. and China, this time over territorial claims, and the economic damage...