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- French composite PMI rose less than expected
French composite PMI rose less than expected
The headline seasonally adjusted Business Activity Index posted 57.5 in March. Up from 56.4 in February, the latest index reading pointed to the sharpest rate of growth since May 2011. Post & Telecommunications overtook Hotels & Restaurants as the best performing sector.
The final seasonally adjusted Markit France Composite Output Index - which covers the combined manufacturing and service sectors - rose to 56.8 in March from 55.9 in February, and signalled the strongest rate of growth since May 2011.
A key driver of the strong upturn in activity was another rise in new orders, the thirteenth in as many months, with some panellists commenting on a general improvement in economic conditions. Furthermore, the rate of expansion was the sharpest in over five-and-a-half years.
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