Business News Asia
According to S&P Global, the final manufacturing Purchasing Managers’ Index (PMI) in France fell to 51.4 in June 2022, the lowest level since the end of 2020.
Falling order intake weighed on the French manufacturing industry in June. High inflation in recent months and global logistics problems have weighed on demand.
“This is mainly due to the slowdown in growth since late last year. The survey data for June revealed that France’s manufacturing sector is entering a contraction,” said a senior economist at S&P.
Although the PMI remains above the 50 mark, this indicates that the manufacturing sector in France continues to expand, but companies are concerned about future developments. In addition, the sub-index for sentiment fell to its lowest level in more than two years.
Weak demand and supply disruptions were responsible for the first production decline in seven months, while new orders fell to 46.1 in June from 50.6 in May – the sharpest drop since November 2020.