PMI Index Recovers Slightly on Domestic Orders after Eight-Month Fall

Feb. SA overall index: 52.9 (up 0.3 point)

MNI survey median: 52.7
MNI survey range: 52.0 to 54.0

Previous results: 52.6 Jan, 52.9 Dec, 54.1 Nov, 55.8 Oct, 59.8 Sept

Feb. SA price index: 54.4 (down 7.8 points)
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PARIS (MktNews) - France's manufacturing sector expanded at a slightly faster pace in February, reversing the previous eight-month slowdown, according to the seasonally adjusted results of the CDAF/ purchasing managers survey released Thursday.
The seasonally adjusted overall PMI index inched up to 52.9 from January's 52.6 (revised down 0.1 point), just above the 50 threshold for expansion. Most analysts in the MNI survey had expected little change but were split on the direction.
The modest recovery in the headline index reflected a pick-up in domestic orders, which outweighed a further slowdown in foreign orders. The new orders index rose to 54.1 from 52.9, while the export orders index slipped to 53.2 from 53.8. The data supports the view that robust consumption and investment will help shield the impact of the global slowdown.
Sector output growth slowed slightly in February, as the index eased to 55.0 from 55.4. Employment continued to expand but at a slightly slower pace as well.
The input price index remained over 50, but declined significantly from 62.2 to 54.4.
A reading above 50 signals expansion in the manufacturing sector, one below 50 contraction. The higher the reading above 50, the stronger the growth.