France PMI August 2019

France

France: Private-sector activity growth accelerates in August

September 4, 2019

The seasonally-adjusted IHS Markit Flash Composite Purchasing Managers’ Index (PMI) edged up to a nine-month high of 52.9 points in August, from 51.9 points in July. As a result, the index moved further above the 50-point threshold that separates expansion from contraction in business conditions.

August’s improvement was broad-based, although overall activity growth continued to be spearheaded by the services sector. Service providers reported a solid acceleration in output and new orders growth, and continued adding more staff, albeit at a slower pace than in July. In the manufacturing sector, both new business production rebounded in August, while the rate of job creation returned to positive territory. Meanwhile, overall business sentiment softened in August, with service providers reportedly more optimistic than their manufacturing counterparts.

FocusEconomics Consensus Forecast panelists see fixed investment growing 2.5% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, the panel sees fixed investment growth at 2.0%.


Author:, Economist

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France PMI August 2019 0

Note: Markit Purchasing Managers’ Index (PMI). A reading above 50.0 points indicates an expansion in business activity, while a value below 50.0 points indicates a contraction.
Source: Markit.


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