Urgent - Negative PMI data indicators for the manufacturing and services sectors in France.

Data released by S&P Global on Thursday morning indicated that manufacturing sector activity in France remained negative again during the current month of November, with the preliminary reading of the Purchasing Managers' Index (PMI) for the manufacturing sector recording a contraction at 43.2 points. This figure was worse than market expectations, which suggested a reading of 44.6 points, while the previous reading for October was 44.5 points. This index measures the level of activity among purchasing managers in the manufacturing sector, and it is primarily based on original survey data collected from 1,000 companies within the French manufacturing and service sectors. It reflects approximately 85% of the total responses to the monthly Purchasing Managers' survey. A reading above 50 indicates growth, while a reading below 50 signifies a contraction. At the same time, the preliminary reading of the Purchasing Managers' Index for the services sector in France was also negative, recording a contraction at 45.7 points. This outcome was worse than expectations, which had forecast a reading of 49.1 points, while the previous reading recorded a contraction at 49.2 points during the previous October. This index measures the level of activity among purchasing managers based on surveys conducted in the services sector. The French Services PMI relies on data aggregated from approximately 500 companies in the French services sector, tracking several variables such as sales, employment, inventories, and prices within France. It is noteworthy that preliminary estimates are based on around 85% of the total responses to the monthly Purchasing Managers' survey.