Julien Manceaux, senior economist at ING, notes that the French manufacturing PMI index showed some resistance in October, increasing slightly and remaining above the 50.0 level. Key Quotes “It’s only a matter of time before it drops below 50.0 and confirms activity contraction.” “On the contrary, the service sector still seems unaffected by the industrial troubles. The latter is due to a slowdown in investments and a contraction of external demand while the service sector is still benefiting from high consumer confidence. The service PMI indicator rebounded in October, from 51.1 to 52.9, which is above its 3Q19 average (this being the best quarter in more than a year) and a recent INSEE survey showed that hiring intentions have not been higher in the last 16 months. It is therefore too soon to see a contagion from the industrial gloom to services.” “As the French economy is more reliant on services than on the industry which represent around 15% of value added (half the German figure), we believe that this week’s surveys confirm that the French economy should resist the current global slowdown for longer. 3Q19 GDP growth will be published next week and is likely to show a still strong domestic demand, paving the way for a 1.3% GDP growth this year. However, the last official projections for 2020, at 1.2%, are already looking rosy.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China: Growth slows to 6% in Q3 – ABN AMRO FX Street 3 years Julien Manceaux, senior economist at ING, notes that the French manufacturing PMI index showed some resistance in October, increasing slightly and remaining above the 50.0 level. Key Quotes "It's only a matter of time before it drops below 50.0 and confirms activity contraction." "On the contrary, the service sector still seems unaffected by the industrial troubles. The latter is due to a slowdown in investments and a contraction of external demand while the service sector is still benefiting from high consumer confidence. The service PMI indicator rebounded in October, from 51.1 to 52.9, which is above its 3Q19 average (this… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.