PARIS (dpa-AFX) - Activity in the French Manufacturing sector decreased slightly less than previously estimated in December, final data from a survey by Markit Economics and CDAF showed Monday.
The purchasing managers index (PMI) for the manufacturing sector came in at 48.9 in December, higher than 48.7 estimated earlier. A PMI reading below 50 indicates contraction in the sector, while one above suggests growth.
The latest reading was the highest in four months. In November, the reading was 47.3.
Production in French factories decreased for the fifth month in a row in December. However, the rate of fall slowed from the previous month, owing to a moderation in the rate of decline in new orders.
French manufacturers raised their workforce in December, though marginally, after reducing slightly in November. Backlogs of work remained almost unchanged in December, after declining in the previous four months.
Input prices dropped for a third consecutive month in December, but the latest decrease was marginal. Output prices continued to grow, though at a slower pace compared to November.
Copyright RTT News/dpa-AFX
© 2012 AFX News
