Sharpest deterioration in seven months (Il Sole 24 Ore Radiocor) - London, 02 Sep - In August, France's purchasing manager's index for the manufacturing sector fell to 43.9 from 44.0 in July, the sharpest deterioration in factory operating conditions for seven months, according to data released by S&P Global and the Hamburg Commercial Bank.

A reading below 50 signals a contraction in sector activity.

"The state of the French manufacturing sector is deteriorating. What seemed like a recovery of the industrial sector at the start of 2024 turned out to be just a brief uptick. The slowdown of the manufacturing sector continued in August. Output declined for the twenty-seventh month running, as too did new orders overall," said Norman Liebke, economist at Hamburg Commercial Bank.

"French manufacturers are bracing for tough times ahead. For the first time since the beginning of the year, the index for future output expectations dropped below the neutral threshold. The index fell further in August and was below the long-term average for the third month in a row. Surveyed manufacturers mentioned political uncertainty, both domestically and abroad as a concern.".

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(RADIOCOR) 02-09-24 10:04:12 (0177) 5 NNNN