Conjoncture France encore en croissance mais baisse des indicateurs

Services continue to drive growth as goods production declines further
Key findings:
▪ Flash France Composite Output Index at 55.6 in December (56.1 in November), 2-month low.
▪ Flash France Services Activity Index at 57.1 in December (57.4 in November), 2-month low.
▪ Flash France Manufacturing Output Index at 49.2 in December (50.1 in November), 2-month
low.
▪ Flash France Manufacturing PMI at 54.9 in December (55.9 in November), 2-month low.
Data collected 6-14 December.
France’s private sector economy registered a further strong expansion in business activity during
December, latest flash PMI® data showed, but the composite figure once again masked wide
divergences at the sector level as strong growth in services output offset a decline in manufacturing
production.
The Flash France Composite Output Index recorded
55.6 during December, down from 56.1 in November, but remained indicative of strong growth
in business activity.

That said, the headline number belied contrasting trends.

Manufacturing output
finished the year with a decline for the second time
in the past three months.

Subsequently, the service
sector remained the engine of overall growth during

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