France Private Sector Broadly Stagnates In December

(RTTNews) - France's private sector economy broadly stagnated in December, flash survey results from S&P Global revealed on Tuesday.

The headline HCOB composite output index posted 50.1 in December, down from 50.4 in November. However, a reading above the threshold 50.0 indicates expansion.

At sector level, services activity saw only a fractional increase, while manufacturing output almost stabilized in December.

The services Purchasing Managers' Index fell to a two-month low of 50.2 from 51.4 in November. At 50.6, the manufacturing PMI hit a 40-month high, up from 47.8 a month ago.

"French private sector business conditions appear largely static in December," Hamburg Commercial Bank Junior Economist Jonas Feldhusen, said.

"…sectoral adjustments have occurred: manufacturing stabilized, whereas services lost momentum, leaving the aggregate picture flat and the overall French economy sluggish," Feldhusen added.