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French Manufacturing Output and Orders Rise in April on Inflation Fears, PMI

PARIS, May 4 (Reuters) - French manufacturing output and new orders rose in April as customers sped ​up purchases due to inflationary pressures linked ‌to the Iran conflict, a survey by S&P Global showed on Monday.

The headline S&P Global France Manufacturing final ​Purchasing Managers' Index (PMI) for April rose ​to 52.8 points from March's 50.0, marking ⁠its highest level since May 2022 and ​climbing well above the 50 mark dividing growth ​from contraction.

New orders rose for the first time since May 2022, while output grew at its quickest pace ​since February 2022, the survey showed.

The S&P ​Global survey also showed that input cost inflation climbed ‌at ⁠its fastest rate since June 2022, as manufacturers raised their own prices at the quickest pace in 38 months.

"Order books and production lines ​in France's ​manufacturing sector ⁠enjoyed a welcome boost in April as clients front-loaded their purchases ​in anticipation of price increases and ​supply ⁠disruption," said Joe Hayes, principal economist at S&P Global Market Intelligence.

"A rise in backlogs of ⁠work ​also raises the odds of ​this upturn having legs to continue throughout the quarter," he ​added.

Reporting by Sudip Kar-Gupta; Editing by Hugh Lawson

Source: Reuters


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