Jonas Feldhusen, economist at Commerzbank Hamburg, said that French private sector output increased for the first time in more than a year. In November, driven by a significant rebound in service activity, the overall PMI rebounded above the boom and bust line. However, the manufacturing industry still dragged down overall performance, and its output experienced the sharpest decline in nine months, further widening the gap between the two major sectors. The improvement in the service sector is encouraging, but it remains to be seen whether this is a one-off, brief recovery or the beginning of a continued recovery. The answers will be given in the next few months. At least, the trend of new orders is moving in the right direction — while domestic demand is improving, overseas orders are also stabilizing.

Jonas Feldhusen, economist at Commerzbank Hamburg, said that French private sector output increased for the first time in more than a year. In November, driven by a significant rebound in service activity, the overall PMI rebounded above the boom and bust line. However, the manufacturing industry still dragged down overall performance, and its output experienced the sharpest decline in nine months, further widening the gap between the two major sectors. The improvement in the service sector is encouraging, but it remains to be seen whether this is a one-off, brief recovery or the beginning of a continued recovery. The answers will be given in the next few months. At least, the trend of new orders is moving in the right direction — while domestic demand is improving, overseas orders are also stabilizing.