French business activity dips in March -PMIs

22/03/2012 11:42 AST

French private-sector business output shrank in March after a two-month reprieve from recessionary pressures, with a marked dip in factory activity and reports of weakening domestic demand that will be unwelcome news for a government heading into presidential and legislative elections.

The Market/CDAF flash manufacturing purchasing managers' index (PMI) slid to 47.6 in March from a February level of 50.0 that is the watermark below which activity is considered to be shrinking.

An equivalent index that attempts to measure activity in the larger services sector stayed at 50.0, stable but on the brink.

"The safest thing you can say is that these data suggest the French economy probably stagnated in the first quarter, avoiding a double-dip recession by the narrowest of margins," said Chris Williamson, chief economists at PMI survey compiler Market.

"Unless new orders start picking up, then companies are going to be cutting back their employment levels and scaling back their operations, which spells trouble for the second quarter. You could well see GDP contract in the second quarter at this rate."

For more on this Click Here

Global News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

Most Viewed Companies
Ticker Price Volume
GFH 0.21
SECO 14.74 5,260,462
DARALARKAN 12.5 47,357,023
ADIB 6.78 826,911
NBAD 15.05 1,349,794
MASQ 120
QIBK 83.9 396,959
Recent News

U.S. offers to cut tariffs on 99.5% of goods under TPP
WASHINGTON (Kyodo) -- The United States has proposed eliminating tariffs on 99.5 percent of goods imported from Japan, as it presses Tokyo to scrap tariffs even on agricultural products to clinch a 1

UK £50bn better off thanks to quantitative easing, says economist
Britain's economy is £50bn better off as a result of the Bank of England's decision to pump in money in the wake of the global financial meltdown, one of its most senior economists has argued.

Dollar Barely Budges Ahead Of Easter Break
The dollar was narrowly mixed in quiet dealing versus other majors on Thursday, as traders got a head start on the Easter holiday.

There was little reaction to the day's economic news, in

Japan Tertiary Industry Index Plunges In February
An index measuring tertiary industrial activity in Japan was down a seasonally adjusted 1.0 percent on month in February, the Ministry of Economy, Trade and Industry said on Friday - standing at 100

March non-oil exports weaker than expected
NON-OIL domestic exports (NODX) for March were weaker than expected, but it doesn't necessarily mean the official estimate for the first quarter's economic growth will be adjusted down further.

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend


Are you satisfied with your full-service broker?