(AOF) – In France, the PMI Manufacturer was kept below the 50 of without change, thus signaling a continuous degradation of industrial conditions since February 2023, according to S&P. Having straightened from 48.5 in March to 48.7 in April, its highest level of the current withdrawal period, it only indicates that a marginal contraction rate, the lowest recorded for more than two years. It was expected at 48.2. “French manufacturing production has increased up for the first time in almost three years in April,” notes S&P.
The companies having mentioned growth in their activity during the month explain this in particular by a resumption of their sales, some having also indicated that they have reconstructed their stocks. According to sectoral data, production in France has increased in the sub-sectors of consumer goods and equipment, and fell in that of intermediate goods.
The survey highlights signs of firming the underlying demand. Indeed, if the overall volume of new orders continued to decrease, the contraction has slowed down for a fifth consecutive month and displayed its lower rate of the last thirty-five months of withdrawal. This attenuation of the contraction reflects in particular a moderate growth of sales in the sub-sector of consumer goods.
The drop in new export orders was reduced at the start of the second quarter, the contraction having displayed its lowest pace of the current withdrawal period, which started at the beginning of 2022. This slowdown reflects, again, an increase in export sales in the consumer goods sub-sector.
