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Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for France on Wednesday. France's preliminary manufacturing PMI rose to 50.4 in September from 48.3 in August, beating forecasts of a rise to 48.5.
France's preliminary services PMI increased to 51.2 in September from 50.6 in August. Analysts had expected the index to climb to 51.0.
"The French private sector eked out another month of modest growth in September, with manufacturing making a meaningful contribution to expansion for the first time in well over a year. However, there was less positive news on the employment front, with jobs being shed at the sharpest rate since November 2014. A marked drop in service providers' business confidence further suggests that the general sluggishness in the economy is set to persist in the foreseeable future," the Senior Economist at Markit Jack Kennedy said.
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