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France: Activity indicators remain upbeat in September - ING

France: Activity indicators remain upbeat in September - ING Skip to main content Follow us on: | FXStreet Blog |    Newsletter MENU Show navigation FXStreet FXStreet - The forex market Home RATES & CHARTS TOOLS Live Chart Trading Positions Forecast Poll Rates Table Technical Confluences ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD GBP/JPY EUR/JPY Dollar Index Gold Oil SP500 News LATEST FOREX NEWS Latest News Institutional Research LATEST NEWS BY ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD USD/CHF EUR/GBP Dollar Index Commodities Bonds Equities Analysis EDITORIAL SELECTION EUR/USD GBP/USD USD/JPY AUD/USD USD/CAD Dollar Index Oil Gold Stocks Commodities Bonds Correlations Support and Resistance Elliott Wave Cycles Sentiment Economic Calendar TOOLS Economic Calendar Interest Rates Market Hours TOP EVENTS Nonfarm Payrolls Fed BoC ECB BoE SNB BoJ RBA RBNZ Live Video SECTIONS Shows Schedule Become Premium MOST POPULAR COACHES Ed Ponsi Giuseppe Basile Sarid Harper Alex Ong Sam Seiden Steve Ruffley Rob Colville Nenad Kerkez Gonçalo Moreira Navin Prithyani David Pegler Walter Peters Education Brokers SECTIONS Forex Brokers Broker News Broker Spreads Home RATES & CHARTS TOOLS Live Chart Trading Positions Forecast Poll Rates Table Technical Confluences ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD GBP/JPY EUR/JPY Dollar Index Gold Oil SP500 News LATEST FOREX NEWS Latest News Institutional Research LATEST NEWS BY ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD USD/CHF EUR/GBP Dollar Index Commodities Bonds Equities Analysis EDITORIAL SELECTION EUR/USD GBP/USD USD/JPY AUD/USD USD/CAD Dollar Index Oil Gold Stocks Commodities Bonds Correlations Support and Resistance Elliott Wave Cycles Sentiment Economic Calendar TOOLS Economic Calendar Interest Rates Market Hours TOP EVENTS Nonfarm Payrolls Fed BoC ECB BoE SNB BoJ RBA RBNZ Live Video SECTIONS Shows Schedule Become Premium MOST POPULAR COACHES Ed Ponsi Giuseppe Basile Sarid Harper Alex Ong Sam Seiden Steve Ruffley Rob Colville Nenad Kerkez Gonçalo Moreira Navin Prithyani David Pegler Walter Peters Education Brokers SECTIONS Forex Brokers Broker News Broker Spreads ; NEWS | 13 minutes ago France: Activity indicators remain upbeat in September - ING By Sandeep Kanihama Preliminary PMI data for September showed upbeat levels of activity expansion in France, both in manufacturing and in services, points out Julien Manceaux, Senior Economist at ING. Key Quotes “INSEE also confirmed this morning that GDP grew by 0.5% QoQ for the third quarter in a row in 2Q17. As opposition to labour market reform was fading yesterday, we believe that this should lead to higher employment growth and stronger than expected GDP growth in 2017. Preliminary PMI data for September showed this morning that French manufacturing activity continues to expand at its fastest pace in more than two years. The index increased from 55.8 to 56.0. This figure is a sign that the stronger than expected recovery in industrial production in 2Q17 (+1.2% QoQ after -0.2% QoQ in 1Q17) should continue in the second half of the year, pulled among others by the recovering building sector.” “The picture, which last month looked less rosy, in the service sector is even more upbeat this time, with the PMI index rebounding from 54.9 to 57.1, recovering its level of the first semester. If sustained, it could translate into an acceleration in job creation in coming months. For the moment, employment growth – though improving – remains subdued and the number of unemployed in July has come back to the level of the summer of 2016. On that front, the second day of protests yesterday (the first occurred on September 12th) showed declining support for Mr Macron’s opposition: around 130k people marched throughout France, against 220k two weeks ago. Unions are not all against the text, contrary to what happened one year ago with Mr Hollande’s reform. All in all, we therefore think that the reform will be passed and will increase hiring intentions in the service sector.” “All in all, the expanding activity in both manufacturing and services should continue to support growth in the third quarter. INSEE confirmed this morning that GDP grew by 0.5% QoQ for the third quarter in a row in 2Q17, with annual GDP growth reaching 1.8%, its highest level in six years. Given the continuing strength in soft indicators in 3Q17, growth could reach 0.4% QoQ this quarter, which would lead to a stronger than expected rebound in 2017. French growth – having slowed from 1.2% in 2015 to 1.1% in 2016 – could then rebound to 1.7% in 2017. Afterwards, if the new Government can take profit from the accelerating recovery to implement reforms, GDP growth could accelerate towards 1.8% in 2018, which would help its public deficit reduction strategy which is still under Brussels’ scrutiny as the European Commission signalled this week.” Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. RELATED TOPICS France Banks PMI LATEST NEWS Filter by topic in News Results France: Activity indicators remain upbeat in September - ING FXStreet | 13 minutes ago European Monetary Union Markit PMI Composite above expectations (55.5) in September: Actual (56.7) FXStreet | 17 minutes ago European Monetary Union Markit Manufacturing PMI above forecasts (57.1) in September: Actual (58.2) FXStreet | 17 minutes ago   European Monetary Union Markit Services PMI came in at 55.6, above expectations (54.7) in September FXStreet | 17 minutes ago Fed: QT set to begin in October but no balance sheet level target yet – Danske Bank FXStreet | 21 minutes ago AUD: It’s not over yet - ANZ FXStreet | 28 minutes ago   Fed: December hike likely due to low unemployment rate – Danske Bank FXStreet | 32 minutes ago ECB: Re-anchoring risk – Rabobank FXStreet | 35 minutes ago Fed still expects one more hike this year and three next year – Danske Bank FXStreet | 38 minutes ago   Germany Markit Services PMI above expectations (53.8) in September: Actual (55.6) FXStreet | 48 minutes ago Germany Markit Manufacturing PMI came in at 60.6, above forecasts (59) in September FXStreet | 48 minutes ago Netherlands, The Gross Domestic Product n.s.a (YoY) remains unchanged at 3.3% in 2Q FXStreet | 48 minutes ago Germany Markit PMI Composite above expectations (55.8) in September: Actual (57.8) FXStreet | 48 minutes ago   Netherlands, The Gross Domestic Product s.a (QoQ) unchanged at 1.5% in 2Q FXStreet | 48 minutes ago EUR futures: bullish stance remains intact FXStreet | 48 minutes ago UK’s Grayling: Not in a position where a court outside the UK can decide on life in the UK post-Brexit FXStreet | 48 minutes ago FOMC: Gauging normality for investors – Wells Fargo FXStreet | 50 minutes ago   Gold recovers from 4-week lows amid renewed N. Korea tensions FXStreet | 54 minutes ago JPY: BoJ MPM and FOMC results – Deutsche Bank FXStreet | 55 minutes ago Mario Draghi’s speech Live Coverage – ECB Youth Dialogue Dublin FXStreet | 58 minutes ago Load More content ... ©2017 "FXStreet" All Rights Reserved FXStreet Blog Site Map Terms and conditions Contact us Advertise with us Languages Edition Spanish Italian Indonesian Portuguese Japanese Traditional Chinese Simplified Chinese Russian French Arabic Deutsch Hungarian Turkish Vietnamese Catalan Korean Disclaimer Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. 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