PARIS (Reuters) – The downturn in French manufacturing eased in March, a survey showed on Tuesday, although the outlook for the sector remains weak due to political uncertainty and weak orders.
The HCOB final purchasing managers index (PMI) for the French manufacturing sector, as compiled by S&P Global, stood at 48.5 points in March.
That marked a rise from 45.8 points in February and represented its highest level in 26 months.
Yet the level remained below the 50-point line denoting a contraction in activity.
The final March PMI manufacturing figure was also slightly weaker than the flash figure of 48.9 points.
“France’s industry is failing to break out of recession. Despite a significant improvement in the HCOB PMI for manufacturing in March, the situation remains sobering,” said Hamburg Commercial Bank AG economist Tariq Kamal Chaudhry.
“The outlook for French industry is not rosy. Order intakes, both domestic and international, remain in decline despite a slower contraction in March,” he added.
(Reporting by Sudip Kar-Gupta; Editing by Hugh Lawson)
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