The activity in the French industry grew stronger in November than in the month before. Market researcher Markit announced this on the basis of a provisional estimate.
The purchasing managers’ index, which reflects the activity, rose to a level of 51.6 from 50.7 a month earlier. The index thus showed the highest level in five months, helped growth in export orders and increased employment. Economists generally expected an improvement to 50.9. A level of 50 or more indicates growth, including shrinkage.
The index for the service sector in France remained unchanged at 52.9. The composite indicator, with industry and services, was 52.7 compared to 52.6 in October.
The industry in Germany shows a slight improvement, but still shows a clear decline. That index went to a position of 43.8 from 42.1 in October. That is also the highest point in five months. The consensus here was 42.8. The figure may indicate that the decline of German industry has reached its lowest point. The index for the German services sector went from 51.6 to 51.3. The composite indicator recorded 49.2 against 48.9 in October, according to Markit.