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European Economic News

French Manufacturing Contracts In July

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

The French manufacturing sector shrank as initially estimated in July, final data from Markit Economics showed Monday.

The Purchasing Managers' Index fell to 49.6 in July from 50.7 in June. The reading came in line with the flash estimate. A reading below 50 indicates contraction.

Output in the sector decreased in July, but the rate of contraction was marginal. Lower production reflected a further decrease in new orders.

Staffing levels in the French manufacturing sector decreased for the sixteenth month in July.

Average purchasing costs faced by French manufacturers continued to increase in July. Output prices decreased for a seventeenth successive month, although the latest fall was the weakest since March 2014.

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