France Services PMI in November
According to data provided by Markit Economics, the final France Services PMI (Purchasing Managers’ Index) stood at 60.4 in November compared to 57.3 in October. It beat the initial estimate of 60.2.
The November France Services PMI showed the strongest expansion in services activity since May 2011, mainly due to the following:
- Production volume and output rose in November, mainly driven by stronger client demand and improved economic conditions.
- New business orders and export orders rose significantly in November.
- Job growth in the services sector improved significantly in November.
ETF performances in November
The iShares MSCI France (EWQ), which tracks France’s performance, fell 0.1% in November 2017. The Vanguard FTSE Europe ETF (VGK), which tracks Europe’s (EZU) (IEV) (N100-INDEX) performance, remained flat in November.
Improvements in the political environment and business environment were the main drivers of business activity. Robust client demand from both the domestic and overseas economy increased investor confidence.
In the next part of this series, we’ll take a look at the services PMI for Spain in November 2017.