French manufacturing sector firmly in the doldrums

|By:, SA News Editor

French manufacturing PMI dropped to a seven-month low of 47 (flash 47.1) in December from 48.4 in November.

Output and new orders declined sharply, while the rate of job losses accelerated.

"Anecdotal evidence suggested that lingering uncertainties continue to hold back the spending and investment that are necessary to support a recovery in the (manufacturing) sector," says Markit. "Instead, most key variables in the latest PMI survey showed deteriorating trends to suggest that no such turnaround is in sight."

The CAC 40 (EWQ) is -0.4%. (PR)