PARIS (Reuters) – French business activity fell to a three-month high in February, although not as initially as expected, as COVID-19 restrictions put pressure on the largest service sector, a monthly survey showed Wednesday .
Data collector IHS Markit said its Purchasing Managers Index last month fell to 47.0 from 47.7 in January, better than the initial reading of 45.2 and taking the index further from the 50-point threshold divides an increase in activity from shortening.
Markit’s IHS PMI sub-index for the service segment fell to 45.6 from 47.3, better than the initial reading of 43.6.
Fearing many business leaders were locked out last month amid rising coronavirus cases, both indices fell to their lowest level since November, when France placed under a second lock to contain the rebellion.
“PMI data in February indicated that the decline in corona viruses will continue through the winter months in the French private sector,” said IHS economist Eliot Kerr.
“Again, there was a service-based weakness, where restrictions associated with the pandemic are hampering businesses, with some companies remaining closed for some time,” Kerr said.
While France has so far snatched a third lockout across the country, the government is increasingly looking at targeted restrictions in regions where case numbers are rising particularly rapidly.
Reciting with Leigh Thomas; Edited by Catherine Evans