France: Private-sector activity growth accelerates in August
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.