March SA overall index: 52.6 (down 0.3 point from Feb.)
MNI survey median: 52.3
MNI survey range: 51.9 to 53.0
Previous results: 52.9 Feb, 52.6 Jan, 52.9 Dec, 54.1 Nov, 55.8 Oct
March SA price index: 50.7 (down 3.7 points from Feb.)
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PARIS (MktNews) - France's manufacturing sector expanded at a slightly slower pace in March after a modest recovery in February, as the U.S. slowdown outweighed the recovery in domestic and Eurozone demand, according to the seasonally adjusted results of the CDAF/ purchasing managers survey released Monday.
The seasonally adjusted overall PMI index fell back 0.3 points to 52.3 in March, erasing the recovery in February, but remaining above the 50 threshold for expansion. Most analysts in the MNI survey had expected more erosion.
"Panel firms reported that falling demand in the U.S. was partly offset by stronger demand from within the Eurozone during the month," the CDAF said. The export orders index slipped two points to 51.2.
In addition, French manufacturing input prices slowed sharply, with index falling 3.7 points to 50.7, the lowest level since May 1999, said. Thus, with the index barely above the 50 mark, input prices rose only marginally in March, at a much slower pace than in February.
Output growth slowed again to the lowest level since February 1999, while finished goods inventories eased. By contrast, managers replenished product stocks after a decline in February.