French manufacturing PMI rises

|By:, SA News Editor

French manufacturing PMI rose to 49.3 (flash 48.8) in January from from 47 in December.

"New orders, output, employment and stocks of purchases declined at slower rates," Markit says. "Only suppliers' delivery times made a weaker contribution."

The hope is that President Hollande's new reform agenda "will deliver some sort of a shot in the arm to business confidence and kick-start a return to growth," Markit says.

The CAC 40 (EWQ) is flat. (PR)