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Modest Growth in French Services Sector in November

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Business activity reported by French service providers increased for the fifth time in as many months during November, albeit at a modest pace. New business also rose which contributed to a further accumulation of unfinished work despite a rise in staffing numbers.

Concurrently, input price inflation accelerated from the previous survey period, as did the rate of decline in average charges. Meanwhile, firms retained a positive outlook towards activity growth over the next year. The seasonally adjusted headline Markit France Business Activity Index – which is based on a single question asking respondents to report on the actual change in business activity at their companies compared with one month ago – posted 51.6 in November.

Up from 51.4 in October, the latest index reading pointed to a modest rate of expansion that was little-changed from the previous month. The final seasonally adjusted Markit France Composite Output Index – which covers the combined manufacturing and service sectors – fell to 51.4 in November from 51.6 in October, and signalled the weakest rate of growth in four months.

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Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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