French private sector activity continued to shrink in April, but at a slower rate than in the previous month, preliminary results of a survey by Markit Economics showed Tuesday.
The composite output index, that measures performance of both manufacturing and service sectors, was at 44.2 in April compared to 41.9 in March. Reading below 50 indicates contraction of the sector. Nonetheless, the score was the highest in four months.
The purchasing managers index that reflects the manufacturing sector activity posted 44.4 compared to 44 in March. This was also the highest reading in four months and exceeded economists' forecast of 44.1.
The manufacturing output index rose to an eight-month high of 44.2 from 43.2 in March.
The services activity index climbed to a four-month high of 44.1 from 41.3 in March. This was expected to rise to 42.
The slower fall in overall activity mirrored an easing in the rate of contraction of new business at French private sector firms during April, Markit said. The latest drop in new work was the weakest in eight months.
Both manufacturers and service providers noted that the rate of decline in new orders had eased since March.
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