French service sector increases hiring as activity surges

French service sector increases hiring as activity surges

In November, surge in France's booming service sector managed to surpass preliminary estimates because firm demand led companies to increase hiring to the fastest pace for 16 years, as a monthly poll unveiled on Tuesday.

Data compiler IHS Markit told that its purchasing managers' index for services edged up to 60.4 from October’s outcome of 57.3, which is the highest outcome since May 2011.

The outcome turned to be better than a preliminary result of 60.2 and pushed the index further away from the 50-point mark, which divides expansions in activity from contractions.

The French service sector seems to be closing out this year on a firmly upbeat footing, with both business activity as well as new orders reaching six-and-a-half year maximums in November.

IHS Markit's composite PMI index, including the services and manufacturing data, tacked on to 60.3 from October’s reading of 57.4, thus topping a preliminary estimate of 60.1.

 

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