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French business activity contracts at slower pace

  • French services PMI increased to 48.9 (flash 48.6) in January from 47.8 in December.
  • Composite PMI 48.9 (48.5) vs 47.3.
  • "The rate of contraction eased as both activity and new business fell to a lesser extent than in December," says Markit. However, "job shedding quickened" while a widening gap between input and output prices implies pressure on profit margins. Business confidence remains "at a historically low level."
  • The CAC 40 (EWQ) is +0.2%, while the euro is flat at $1.352. (PR)
Comments (1)
  • Boy Zap
    , contributor
    Comments (4) | Send Message
    EWP is Spain's Index! EWQ is France's index!
    5 Feb, 01:53 PM Reply Like
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