RTTNews - French manufacturing sector continued to improve in August, rising more than initially estimated, a report from the CDAF and Markit Economics said on Tuesday.
The Purchasing Managers' Index or PMI increased to 50.8 in August from 48.1 in the previous month.
The index also stood above the flash estimate of 50.2.
A reading above 50 indicates expansion, while a reading below 50 signals a contraction.
Manufacturing production and new orders increased for a second consecutive month in August, and export orders also increased. However, input prices and output prices continued to contract sharply.
Jack Kennedy, economist at Markit, said, The recovery in France's manufacturing sector gained traction in August. The protracted decline in finished goods stocks sets the stage for further solid gains in production as new orders and backlogs rise.
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