Latest data released by Markit - 5 October 2020
- Composite PMI 48.5 vs 48.5 prelim
The preliminary report can be found here. No change to the initial estimates as this just reaffirms that the French services sector has experienced some slowdown amid the resurgence in virus cases across the country. Markit notes that:
"Rising COVID-19 infection rates contributed to a downturn in private sector business activity at the end of third quarter. Panellists commented that their clients were hesitant to commit to future work while the prospect of tightening restrictions loomed large.
"The impact of the recent outbreak was, however, felt very differently across the two monitored subsectors, with manufacturers posting a solid expansion in output and service providers recording a decline in activity. This is somewhat unsurprising given the client-facing nature of many service sector professions, but given the interdependence of two sub-sectors, we may see a slowdown in manufacturing in the months ahead.
"For now, businesses remain optimistic towards the one-year business outlook, but should infection rates remain on their current trajectory, sentiment will likely soften going forward."
