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Eurozone - France

France’s exports slip as eurozone sees more signs of economic recovery

Manufacturing output in the eurozone grew at its highest pace since May 2011 in December but France remained a weak point amid a fresh sign of recovery, according to a key poll of the euro bloc’s purchasing managers.

REUTERS/Alex Domanski
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The manufacturing purchasing managers’ index produced by the data company Markit hit 52.7 from 51.6 in November in the third consecutive monthly climb above the cut-off of 50 that signals growth.

Markit’s chief economist Chris Williamson said to Agence France Presse that the upturn in factory activity “is helping the euro area recovery become firmly established.”

The new data shows an increase in production of approximately one percent in the last quarter of 2013, setting the New Year off to a good start.

But France continued to see its output tumble as Germany, Italy, and Spain recorded the highest uptick in output since early 2011.

France is the eurozone's second largest economy, and its weak manufacturing base could beset regionwide progress.

Markit said this suggests that France will need to review its competitiveness within the manufacturing sector to improve its export business and not lag behind its neighbors.

Even Greece posted a 52-month high while France’s struggling economy endured a seven-month low in December despite officially being out of recession.
 

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