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03.03.2016 10:35 France's final services PMI slides to 49.2 in February, the lowest level since November 2014

Markit Economics released final services purchasing managers' index (PMI) for France on Thursday. France's final services purchasing managers' index (PMI) slid to 49.2 in February from 50.3 in January, down from the preliminary reading of 49.8. It was the lowest level since November 2014.

 

The index was driven by declines in new business and backlogs of work.

 

"February's PMI data highlight a disappointing performance of France's dominant service sector, precipitated by a fall in new business intakes. A fragile and uncertain economic climate continues to cloud the outlook for the sector, with businesses and consumers reluctant to commit to new spending," Senior Economist at Markit Jack Kennedy said.



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