The IHS Markit France Composite PMI fell marginally to 52.0 in December 2019 from 52.1 in the previous month and matching the preliminary reading. The reading pointed to a modest expansion in the private sector, as manufacturing output growth slowed (PMI at 50.4 vs 51.7 in November) while services grew faster (PMI at 52.4 vs 52.2 in November. The rate of expansion in new orders ticked up from November while the rate of job creation eased to the softest for three months amid a broad-based slowdown at the sub-sector level. Finally, although firms anticipated a rise in activity during 2020, the degree of optimism was the weakest for six months. In December, several unions including transportation went on strike to protest against a reform of France’s pension system, which will see people need to work longer to get a full pension. Composite Pmi in France averaged 50.95 points from 2012 until 2019, reaching an all time high of 60.30 points in November of 2017 and a record low of 41.90 points in March of 2013. source: Markit Economics
Composite Pmi in France is expected to be 52.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in France to stand at 53.80 in 12 months time. In the long-term, the France Composite PMI is projected to trend around 54.20 points in 2020, according to our econometric models.