PARIS, Feb 1 (Reuters) - France's manufacturing activity
rebound in January was not quite as strong as first forecast, a
survey showed on Wednesday, as new orders remained weak.
S&P Global's final purchasing managers index (PMI) figure
for January rose to 50.5 points, up from a final figure of 49.2
points in December, but below the preliminary "flash" reading of
50.8.
Any figure above 50 suggests an expansion in activity, while
below that points to a contraction.
"We're starting to see more evidence to suggest that the
worst of the manufacturing downturn is behind us. Although
demand and production levels are still falling, rates of
contraction are modest and markedly softer than those seen in
the second half of last year," said S&P Global Market
Intelligence senior economist Joe Hayes.
"Nevertheless, survey respondents continue to remark on
client de-stocking, a factor which continues to dampen new
orders," added Hayes.
Preliminary French fourth quarter gross domestic product
figures this week showed growth of 0.1%, but economists say
there is still a risk of a recession.
(Reporting by Sudip Kar-Gupta; Editing by Hugh Lawson)
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