Prior 43.1A slightly positive revision reaffirms a modest bounce back in activity in France's manufacturing sector. The contractions in output and new orders softened considerably in February while business optimism improved to its best since May last year. HCOB notes that:“The French manufacturing sector is starting to recover, and at a faster pace. Although the PMI was in contraction territory for the thirteenth month in a row, the decline softened noticeably. A smaller shrinking of domestic and international demand helped the Output Index to recover further. With the latest PMI figures, our HCOB Nowcast points to a softer downturn in the manufacturing sector in the first quarter of 2024.
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