French business activity stronger than expected in March: PMI

FILE PHOTO: Office buildings are seen at the financial and business district of La Defense, amid the outbreak of the coronavirus disease , in Paris, France, November 9, 2020. REUTERS/Benoit Tessier

The result easily beat economists’ average expectations in a Reuters poll for a reading of 47.2 and was just shy of the 50-point threshold that would indicate an expansion in activity. The larger services sector, which has been hit harder by coronavirus restrictions that forced most restaurants, hotels and cultural venues to shutter, saw its flash PMI rise to 47.8 from 45.6, well above expectations for 45.5.

The new measures force non-essential retail outlets to close - although exceptions are numerous - and limit people’s movements to 10 kilometres from home.

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UK companies rebound in March ahead of lockdown lifting - PMIBritish businesses saw a strong rebound in orders in March as they prepared for the relaxation of coronavirus restrictions this month, and ramped up their hiring for the first time since the pandemic struck, a survey showed. 'However, the final reading was a little lower than a preliminary estimate of 56.6.' Another undershoot. In times of confusions, trials and mistrust, the entire Muslim Ummah needs some reassurance and commiseration. Muhammad Qasim’s Dreams bring us such hope and the help of Allah that has been promised by Prophet Muhammad SAW. Learn more at The shift in percentage is just marginal compared to Feb and March. But lockdown relaxation and vaccination drive should bring in a significant change in economic growth.
Source: Reuters - 🏆 2. / 97 Read more »