Latest data released by Markit - 6 January 2021
- Composite PMI 49.5 vs 49.6 prelim
The preliminary report can be found here. Little change to the initial readings as this just reaffirms that the decline in French services activity towards the end of last year has eased to just a marginal pace. Markit notes that:
"The French private sector showed resilience in December, despite businesses facing strict COVID-19 restrictions for the vast majority of the survey period. The decline in activity eased markedly and new orders were little-changed having fallen in each of the previous three months. Moreover, with measures now somewhat relaxed, firms can once again begin to target growth as demand conditions start to recover. This mindset was exemplified by a stabilisation in private sector staffing levels, ending a nine-month sequence of workforce contraction.
"Although the coronavirus crisis is not over, firms are optimistic that 2021 will be a stronger year, with new orders expected to rise as vaccines are rolled out to the population. With that, we can expect increasing levels of employment and a recovery towards pre-virus levels of activity."
