The French manufacturing sector contracted less than initially estimated in May, final data from Markit Economics showed Friday.
The headline Purchasing Managers' Index fell to 44.7 in May, the lowest reading in three years but above the flash estimate of 44.4. The April reading was 46.9.
The overall drop in May reflected weaker contributions from all five of its components, namely output, new orders, employment, stocks of purchases and suppliers' delivery times.
Jack Kennedy, Senior Economist at Markit said, "Latest PMI data showed the French manufacturing sector in the grip of a deepening downturn in May."
by RTT Staff Writer
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