France's industrial sector fell less than expected in December

Data released by Markit today showed that the manufacturing purchasing managers' index in France fell to 55.6 points in December from 55.9 points in November, which is better than the preliminary reading of 54.9 points in December. The reading came in better than expected, supported by new orders and some improvements in the supply chain situation, and French companies such as transportation equipment manufacturer Alstom and aircraft maker Air.PA (AIR.PA) won big contracts during the month of December.

And the industrial sector in Germany, the largest economy in Europe, fell to 57.4 points in December, which is less than the first reading of 57.9 points, amid a shortage of semiconductors and raw materials, which affected the German auto industry in particular.