French private-sector business growth dips after attacks

GMT 10:27 2015 Thursday ,03 December

Arab Today, arab today French private-sector business growth dips after attacks

Growth in French private-sector business activity
Paris - AFP

Growth in French private-sector business activity slowed in November following the attacks in Paris, data showed Thursday

A final Purchasing Managers' Index (PMI) compiled by financial data company Markit showed a level of 51, down from 52.6 in October, with "some companies mentioning the impact of the November 13 attacks".

Markit's initial estimate for November had been 51.3 percent.

This was the slowest increase since August of the index, which which measures growth perceptions in industry and services, Markit said.

Markit collected its data between November 12 and 25.

For the eurozone as a whole, the final PMI index showed a level of 54.2, up from October's 54.1.

It came in below an initial flash estimate of 54.6, but still showed a three-month high, with growth "remaining among the fastest registered during the past four-and-a-half years", Markit said.

"With the exception of France, growth rates are moving higher, but the ECB’s concerns over price stability are given further credence by the survey showing average prices charged for goods and services dropping for a second successive month," Markit chief economist Chris Williamson noted in the statement.

The ECB's governing council is meeting on Thursday amid expectations of further quantitative easing, possibly combined with a cut in leading interest rates.


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