French service PMI, November revised value is 57.4, the highest level in 5 months

The revised value of the French Service Sector Purchasing Managers’ Index (PMI) announced on the 3rd by IHS Markit was 57.4, up from 56.6 last month for the first time in 5 months. It became a high standard.

 

Tourism has recovered and employment has expanded. It has been revised downward from the preliminary value of 58.2.

 

Some business activities affected by the epidemic of the new coronavirus have resumed. The service department is also highly optimistic about the future.

 

The total PMI revision for the service industry and manufacturing industry was 56.1, up from 54.7 in the previous month. It has been revised downward slightly from the preliminary value of 56.3.

 

Joe Hayes, an economist at IHS Markit, said, “Currently, the economy is supported by the service industry. The French manufacturing industry is facing major supply constraints.”

 

“Therefore, the economy as a whole is in jeopardy, as the outlook for the service industry is still driven by the epidemic of the new corona,” he said.

 

Increasing inflationary pressures in the service sector have also become apparent. The rate of increase in input prices in November was the highest in the past 13 years.

Related Posts

Dennis Morris

Dennis Morris writes related to the Business Category. He manages to cover anything thrown at him in these two verticals owing to his natural inclination towards Business. Dennis is our freelance contributor. He is responsible for covering developments in finance and business categories.

Leave a Reply

Your email address will not be published.