2023-04-03 04:34:30 ET
- The S&P Global France Manufacturing PMI was revised slightly lower to 47.3 in March 2023, down from a preliminary estimate of 47.7 and below February's 47.4, pointing to a second successive month of falling factory activity, with production shrinking for a tenth month due to a further steep decline in new orders amid weak demand.
- Subsequently, purchasing activity and input stocks were reduced as firms adjusted to lower output requirements.
- Meanwhile, workforce numbers continued to expand in March, with the rate of job creation matching February's mild pace.
- Also, the broader supply-side trend was positive in March, with average lead times shortening for the first time since August 2012, which contributed to an easing of price pressures.
- Finally, French manufacturers turned pessimistic towards output prospects over the next 12 months in March, due to concerns about high inflation and prolonged weakness in demand.
For further details see:
French February manufacturing PMI revised lower as export demand weakens