December 4, 2019 / 9:04 AM / 3 months ago

French business activity growth slows in November: PMI

FILE PHOTO: An aerial view shows La Defense business and financial district in Courbevoie near Paris, France, July 14, 2015. REUTERS/Philippe Wojazer

PARIS (Reuters) - French business activity expanded at a slower pace in November from October, a survey showed on Wednesday, as customer demand softened among services firms in the euro zone’s second-biggest economy.

Data compiler IHS Markit said its purchasing managers’ index for the services sector fell to 52.2 points from 52.9 in October, also missing a preliminary reading of 52.9.

The 50-point level marks the threshold between expansion and contraction.

IHS Markit’s overall composite PMI index, which covers the services and manufacturing sectors, fell to 52.1 from 52.6. November’s preliminary reading was 52.7.

The data showed “a softer rise in demand across the service sector, with new order growth easing from October. Subsequently, firms saw business activity expand at a slightly slower pace,” said IHS Markit economist Eliot Kerr.

Manufacturing output rose, but not enough to offset the slowdown in services, as overall output growth softened, he said.

Reporting by Sudip Kar-Gupta; editing by John Stonestreet

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